Colombia’s XRPL-Powered Land Registry System Goes Live

Peersyst, a blockchain firm with headquarters in Barcelona, recently made a significant statement about the construction of the first National Land Registry system to be based on the open-source public XRP Ledger (XRPL).

David Schwartz, Jed McCaleb, and Arthur Britto came up with the idea for XRPL in 2012, and the XRP cryptocurrency serves as its original digital asset.

Peersyst made the announcement on July 1 that it has successfully launched Colombia’s first National Land Registry on top of the XRPL blockchain. This was a project that had been in the works for more than a year. Peersyst went on to state that this solution for Colombia’s National Land Agency (also known as “AgenciaTierras”) is built on XRP Stamp, which makes it possible to register digital assets on XRPL and verify their authenticity using QR Codes. Peersyst was providing this solution for Colombia. The Spanish blockchain startup also expressed their gratitude to Colombia’s “Ministerio TIC,” which translates to “Ministry of Information Technologies and Communications,” as well as Carmen Ligia Valderrama Rojas, who serves as Colombia’s Minister of Information Technologies and Communications.

XRP Stamp is cross-service (“offers a reliable data notarization system that can be used by multiple entities for different purposes”), secure (“once the files are verified and the certificate generated all of the information is secure and stored on-chain”), and decentralized (“built in the XRP Ledger, which “means first quality technology and high-performance structure”). XRP Stamp is “built in the XRP Ledger, which “means first quality technology and high-performance structure.”

Peersyst is responsible for the “creation, development, and deployment” of the XRP Stamp, and it makes use of the non-custodial XRP wallet known as Xumm, which as of August 2 has a total of over 169,779 monthly active users.
Peersyst made the announcement that the first edition of Colombia’s brand new national land register system has entered production on Friday (July 29). According to an article that was written by Mat Di Salvo for Decrypt and published on Monday (1 August), the CEO of Peersyst, Ferran Prat, was quoted as saying the following to Decrypt:

“Land is the most valuable asset in Colombia. It was because of this that armed groups such as the FARC began their conflict with the government… The argument here is that land in Colombia is valuable, and as a result, there needs to be a system in place that prevents land from being unlawfully appropriated. Help will be provided by putting the information onto a public blockchain that is immutable and cannot be modified.

A senior adviser at Ripple Labs  (XRP) named Antony Welfare was quoted in the article as saying the following:

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“Once a transaction is added to the public blockchain, there is no way to get rid of it because it is permanent. That right there is the most vital component. In the event that the governmental system is destroyed, the person who owns a piece of land will still be recorded in a blockchain because the information is distributed across multiple nodes.

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