DayOfCrypto
  • Home
No Result
View All Result
DayOfCrypto
No Result
View All Result
DayOfCrypto
Home Other
major-latin-american-development-bank-pilots-blockchain-for-land-registry

Major Latin American Development Bank Pilots Blockchain for Land Registry

by Admin
October 28, 2019
in Other
286 6
0
Share on FacebookShare on Twitter

The IADB is piloting three projects to see if blockchain technology can solve some of the most urgent problems of land administration in South America.

The Inter-American Development Bank (IADB) is implementing three different blockchain pilot projects to test if blockchain technology is able to solve some of the problems of land titling and registries.

On Oct. 28, blockchain startup ChromaWay reported that it is collaborating with IADB on a two-year project in Bolivia, Peru and Paraguay on an initiative called “Distributed Ledger Technology (Blockchain): The Future of Land Titling and Registry.”

Chromaway, which has experience in tracking land titles in countries such as Sweden, Canada, India, and Australia, will run the pilots together with Bolivian IT services company, Jalasoft, with the intention to eventually bring the blockchain pilots to other parts of South America. ChromaWay CEO Henrik Hjelte said:

“Our collaboration with the IDB provides the opportunity for partner countries to take advantage of maturing distributed ledger technologies that have been developed and used in other projects. We are especially excited to deploy these solutions in societies where secure land registration systems can have such a positive social and economic impact.”

The IADB, which is the largest source of development financing in Latin America, hopes that the project, which is to launch next month, can give insights into how blockchain technology can contribute to solving some of the problems of land administration in South America. 

Blockchain records ownership rights

Governments of different countries around the globe are increasingly participating in or encouraging the creation of blockchain-based land registries.

Most recently, the Department of Economic Development of Dubai announced its transition to a blockchain-based platform for the single enterprise market. The new system will purportedly make doing business in Dubai more convenient.

The use of blockchain to permanently record ownership rights for real estate and business has been ongoing since 2016. Interest in the technology continues to grow as the process excludes intermediaries that collect commissions in the process of, for example, conducting real estate transactions. It can also lower the risk of fraud, prevent data forgery and simplify the process of checking real estate objects or business debts before deals take place.

Tags: BlockchainBoliviaLand RegistryLatin AmericaPeru

Admin

About Us

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Popular Tag

Adoption Banks Binance Binance Coin Bitcoin Bitcoin Cash Bitcoin Price Bitcoin Regulation Bitcoin SV Blockchain Central Bank China Coinbase Crimes Cryptocurrencies Cryptocurrency Exchange EOS Ethereum Ethereum Price Facebook Germany Government Investments Japan Law Libra Litecoin Markets Market Update Mining Payments Regulation Ripple SEC Security South Korea Stablecoin Stellar Switzerland Tokens Tradings Transactions USA Wallet XRP

Recent News

Poloniex Review – Buy and sell cryptocurrencies, Bitcoin, Registration, Safety, Reference

Poloniex Review – Buy and sell cryptocurrencies, Bitcoin, Registration, Safety, Reference

November 8, 2020
Bitstamp Review – Buy and sell Bitcoin and cryptocurrencies, Registration, Safety, Reference

Bitstamp Review – Buy and sell Bitcoin and cryptocurrencies, Registration, Safety, Reference

November 8, 2020
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version
Skip to toolbar
  • About WordPress
    • WordPress.org
    • Documentation
    • Support
    • Feedback
  • Log In
  • AMP
    • View AMP version