A look at how Colombia is using blockchain technology to store and maintain records of its land affairs

A look at how Colombia is using blockchain technology to store and maintain records of its land affairs
A look at how Colombia is using blockchain technology to store and maintain records of its land affairs

Cryptocurrency is not the only use case for blockchains. Today, distributed ledger technology is being implemented across industries, transforming many daily processes.

Even governments have begun to take notice, turning to blockchain technology to secure, optimize and digitize traditional operations.

For example, Columbia recently announced its plans to maintain land registries on Ripple’s XRPL blockchain.

This move is a pilot test for further expansion of blockchain-based governance plans in the country.

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The cadastral system was developed in collaboration with the Barcelona-based blockchain development company Peersyst. The process is just an extension of the existing method. When someone applies for land registration, a computer and camera are included in the image verification process.

After confirmation, the collected data is added to a hash that cannot be changed on the blockchain. This data can be validated through a simple QR code.

The project could be a significant breakthrough for the land registry in Columbia, one of the world’s most densely populated countries. Moreover, Columbia has also suffered the effects of a protracted civil war that raged from 1964 to 2016.

In fact, one of the main causes of the unrest was the unequal distribution of land. “This

Fortunately, with the implementation of Ripple’s public ledger system, things could see a drastic change. The long and winding lines and obstacles under the table may give way to a cleaner perception of governance in Columbia that is faster and more efficient.

Once the land registry information has been added, it cannot be tampered with or removed. This is the whole premise of blockchain technology. “That’s the most important part. If the government system is blown up, the owner of land will still be in a blockchain because it’s held around the world in different nodes,” said Antony Welfare, senior advisor at Ripple Labs.

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The management of this pilot project is carried out by Colombia’s Ministry of Information and Communication Technology, which presented its plan at a Peersyst event called “For a more digital state: Blockchain at the service of the public sector.”

The land registration system will help more than 100,000 Colombians who do not have proper documentation of ownership of the land they currently live in.

Columbia finds itself leading the blockchain revolution for several reasons, starting with the country’s high inflation rate. At an average of 8% per year, inflation has shifted public trust from the existing fiat currency to cryptocurrencies.

The country has one of the world’s highest crypto adoption rates, and most of the population sees crypto as the future of money.

The other likely reason why Columbia is bullish on blockchain technology is the widespread corruption that has washed away people’s trust. People will surely rally around decentralization and the idea of ​​corruption-free processes.

This was one of the manifesto promises of the newly elected government.

In the other development regarding blockchain and crypto adoption in the country, Columbia has allowed partnerships between banks in the country and crypto exchanges. Bitcoin ATMs have become common thanks to these partnerships.

And if this pilot project gets the expected results, we can see many more world news in the field of blockchain-based governance in the country. What is added to land records can soon be used for birth certificates, death certificates, wills and other important documentation.

A great result of this will be the inclusion of the unbanked and underserved population.

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