Columbia Welcomes Ripple’s XRPL Blockchain For Land Registry

  • Clio 1.0, an XRP Ledger API server, has been released by Ripple.
  •  The value of Ripple’s XRP has fallen by more than 26% in the previous 30 days.

The National Land Registry in Columbia has been digitized using Ripple’s XRPL Blockchain. Peersyst Technology, a software development company in Spain, created a Blockchain-based solution.

National Land Agency has already started implementing this scheme. A QR code may be used to verify the legitimacy of digital assets registered on the XRPL. This effort might result in more than 100,000 adjudications in a short period, which experts believe will contribute to resolving the country’s land difficulties.

Blockchain Adoption on the Rise

Residents of the nation will have a renewed sense of trust in the government because of this newly registered database. Colombians are among the few people in the world who have embraced cryptocurrency at such a quick pace. According to published statistics, crypto transactions in Chile are the second-highest in Latin America.

Clio 1.0, an XRP Ledger API server, has been released by Ripple to improve the scalability of XRPL data. Joel Katz, the company’s Chief Technology Officer, announced the API release. Now API queries will get a boost in throughput, and horizontal scalability will be made simpler. It is also meant to decrease the memory and storage space users have to deal with.

To put it another way, according to the Santiment, Ripple’s XRP has lately seen its highest daily number of unique addresses in over three years. This is the first time since February 2020 that the number of active XRP addresses has reached the 200,000 mark on an average day.

According to CoinGecko, the value of Ripple’s XRP has fallen by more than 26% in the previous 30 days. The crypto market has taken a massive drop, losing almost 40% of its value in the same time span as Bitcoin and Ethereum, the industry’s two most valuable assets.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.