Attorney Jeremy Hogan has applauded Ripple’s XRPL use in developing a land registry solution for Columbia as a way to showcase crypto utility.
Following the launch of Columbia’s first national land registry on the XRP Ledger (XRPL), attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, has commended the move, saying it goes to portray the utility of cryptocurrencies.
The attorney, who has been vocal about the ongoing Ripple v. SEC lawsuit, said using XRPL for Columbia’s land registry might sound boring to many. Still, the initiative is a “perfect example of crypto utility.”
“An immutable (I love this word for some reason) record of land registration, timestamped, searchable, and inherently trustworthy – it’s the perfect use case for a blockchain ledger,” attorney Hogan said.
So, although boring, the XRPL/Columbia partnership is the perfect example of crypto UTILITY.
An immutable (I love this word for some reason) record of land registration, timestamped, searchable, and inherently trustworthy – it’s the perfect use case for a blockchain ledger.
— Jeremy Hogan (@attorneyjeremy1) July 3, 2022
Ripple Partners Peersyst Technology to Launch Columbia’s National Land Registry
Recall that Ripple, alongside a team of blockchain developers from Peersyst Technology, partnered on an initiative to launch the first-ever XRPL-based national land registry solution, which will address all land registry issues in Columbia.
To earn Columbians’ trust and confidence in the service, the country’s National Land Agency, AgenciaTierras, has disclosed that it will be registering over 100,000 adjudications soon.
Hogan Explains the Importance of the Solution
Attorney Hogan explained the significance of the newly-launched solution, detailing the difficulty in transferring land ownership using the traditional system.
“Ponder how the transfer of land is accomplished. The purchaser/buyer must be noted, what title is being transferred, and the actual property being conveyed must be described,” he said.
Attorney Hogan, a famous Ripple enthusiast, added that all information related to land transfers must be stored in a searchable manner by the local government, which is a complex procedure.
He said any slight error made during the process is capable of leading to years of litigation, adding:
“To make things even more difficult, governments make laws that limit/restrict the transfer of land and also impose taxes on property – making 1000% accurate registration all the more important.”
However, the recently-launched land registry solution will address all these problems.