Peersyst Technology entered a deal with the Colombian government to record and register land registry rights in Colombia. Property title searches are still a laborious, primarily paper-based process. This aims to significantly speed up property transactions by putting the registry on the blockchain, stimulating the local economy.
The initial use case is a digital asset notarization software built on XRP Ledger (XRPL), which will be the registry of land awards for the Colombian Government. The solution, which makes use of the XRP stamp that enables digital assets to be registered on XRPL and their authenticity to be validated using a QR code, is put into place for Colombia's National Land Agency "AgenciaTierras." The initiative aims to register more than 100,000 adjudications in the short term to guarantee confidence for Colombians.
Aside from being a long-standing Ripple partner, Peersyst Technology was a recipient of the Wave 2 XRPL funding for a different NFT project.
XRP cross transactions now possible via Wanchain bridge
The latest bridge built by Wanchain, a decentralized blockchain interoperability solution, now allows for XRP cross-chain transactions to be performed on the XDC Network.
Recent months have seen the emergence of various XRPL interoperability initiatives. Here, Multichain continued to play a crucial role by collaborating with projects such as Sologenic and onXRP.com.
Launch of onAVAX.com, a cross-chain DeFi platform for XRPL and Avalanche native assets. OnAVAX leverages the Avalanche protocol in collaboration with Multichain to bridge assets between chains.