Authorities in Columbia have adopted a digitized National Land Registry based on Ripple’s XRPL Blockchain.
The Blockchain-backed solution was developed by Spain-based software development firm, Peersyst Technology.
Already, the program has been implemented through the country’s National Land Agency.
Digital assets can be registered on the XRPL and their authenticity can be verified through the use of a QR code.
This project is expected to help solve the country’s land issues and according to analysts, it could register over 100,000 adjudications in a short while.
This registered database will help to renew confidence in the authorities for residents of the country.
Colombia is one of the few countries in the world that has seen rapid adoption of cryptocurrencies by citizens of the country. According to available data, the country ranks second in Latin America for Bitcoin transactions.
Ripple Introduces Clio 1.0
In another development, Ripple has announced the release of Clio 1.0, an XRP Ledger API server that aims to enhance the scalability of XRPL data.
The API release was announced by its Chief Technical Officer, Joel Katz. The new API will help to improve throughput for API requests and allow easier horizontal scaling.
By the same token, the server is designed to reduce memory usage and storage overhead for users.
XRP Unique Addresses Surge
A tweet by the Santiment shows that Ripple’s XRP recently recorded its largest daily number of unique addresses in almost three years.
For context, this is the first time since February 2020 that the number of daily active addresses on XRP has crossed 200,000.
Meanwhile, Ripple’s XRP has seen its value drop by over 26% within the last 30 days, according to data from CoinGecko.
Its price decline is coming at a time when the broader crypto market recorded a huge nosedive ghat saw flagship assets, Bitcoin and Ethereum, shed over 40% of their value within the same period.