- Ripple supporters have waited a long time for some genuine government-level partnerships
- The project was supposed to attract the world’s banks to use the XRP token and Ripple’s tech
- Ripple’s deal with the Colombian National Land Agency is a departure from those heady days
As anyone who has been in the crypto world for more than a few years will remember, Ripple supporters have barked loud and long about “partnerships!”. During the 2016-17 crypto boom, Ripple made a name for itself as the coin that would be adopted by banks stepping onto the blockchain train. This would propel its token price to new, unthinkable heights. However, things didn’t quite work out like that, but a recent Ripple partnership has shown that there is life in the old dog yet, but perhaps not performing the tricks it had assumed to five years ago.
Ripple Ledger to be Used by Colombian Land Registry
News of Ripple’s unlikely partnership arrived on Friday when Peersyst, a company that builds software to help the adoption of blockchain technology, announced that no lesser entity than the government of Colombia would use the Ripple ledger to store and authenticate property titles in the country:
— Peersyst Technology (@Peersyst) July 1, 2022
The system, developed by a Peersyst, aims to allow the Colombian National Land Agency to issue a record number of land adjudications for citizens and ensure that records are accurate, immutable and easy to view. Unfortunately for XRP fans, the XRP token will not feature on the platform, echoing other implementations of Ripple’s xRapid technology, where the underlying technology would be used but the token would not.
Colombia Joins a Slowly Growing List
Colombia is not the first country to use blockchain technology for land registry records – Mexico announced such a plan in 2019, three months after Wyoming announced that it was trialling the same thing. Around the same time, the UK Land Registry was also looking into ways in which to use blockchain technology to assist its own operations.
News of a deal with the Colombian National Land Agency to store land registry records may not be on the same scale as Ripple’s past dalliances with Moneygram, but at this point the company is so desperate for a partnership that it will take anything. Plus, it’s not paying for this one.