Payments platform Ripple is inking a new deal with the Colombian government to use the XRP Ledger (XRPL) in the nation’s land registry system.
Crypto software development firm Peersyst Technology announced the launch of the first-ever government land registry on top of XRPL.
“Thrilled to announce that after a year of development with GobDigitalCO [and] Ministerio TIC, we launched the first National Land Registry on top of XRP Ledger. Main blockchain for all Colombians!”
The firm says Colombia’s land agency can now access the XRPL as well as register digital assets on its ledger and verify their authenticity via a QR code.
“The solution has been implemented for AgenciaTierras is based on xrpstam.com which allows to register digital assets on XRPL and verify their authenticity with QR code. The solution will register +100,000 adjudications in a short term to guarantee confidence for Colombia.”
Ripple’s chief technology officer David Schwartz tells his 371,000 Twitter followers that the development team recently released a new upgrade that improves the scalability of access to XRPL data.
“Excited to announce the release of Clio 1.0 which significantly improves the scalability of access to XRPL data. It doesn’t matter how quickly and cheaply the ledger can reach finality if you can’t support massive numbers of queries from wallets, exchanges, and explorers.”
According to RippleX, the Clio upgrade for XRPL will enhance throughput for application programming interface (API), reduce memory storage, lower storage overhead, and enable easier horizontal scaling.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/MightyRabittCrew/INelson