Legal expert Jeremy Hogan says the attempt to use the XRP Ledger (XRPL) in Colombia’s land registry system has been a “huge” success.
Hogan claims that the partnership between Colombia and XRP Ledger is an “excellent” use for blockchain technology as it makes the land registry system more efficient.
“So, although boring, the XRPL/Columbia partnership is a perfect example of crypto UTILITY.”
“XRPL to be used for Columbia’s land registry.”
Sounds boring but it’s actually HUGE. #alltheland
Ponder how the transfer of land is accomplished. The purchaser/buyer must be noted, what title is being transferred, and the actual property being conveyed must be described. 1/ pic.twitter.com/nSMJd6hbC4
— Jeremy Hogan (@attorneyjeremy1) July 3, 2022
Crypto legal expert says that the land registration process is currently complex, time-consuming, and inefficient.
“Imagine how the transfer of land is done. The buyer/recipient should be noted, explaining which title was transferred and the actual property being moved.”
And all this information must be filed and stored in a searchable form by the local government. To make things even harder, the government passes laws that limit/restrict land transfer as well as tax property, making 100% accurate registration even more important.
