2022-7-6 14:10 |
Lawyer Jeremy Hogan commented on the use of XRPL for Columbia’s land registry.
Lawyer Jeremy Hogan commented on the use of XRPL for Columbia’s land registry on Twitter. He wrote:
«XRPL to be used for Columbia’s land registry». Sounds boring but it’s actually HUGE. #alltheland 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 also added:
And ALL that information must be filed with and kept in some searchable manner by the local Govt. If you’ve ever been to the Clerk’s office – it’s complicated as heck! And the consequences for even small errors are catastrophic and can lead to YEARS of litigation.
To make things even more difficult, governments make laws that limit/restrict transfer of land and also impose taxes on property – making 1000% accurate registration all the more important. ** If you want to make a lawyer cringe, just say «Rule against perpetuities» to them. :)
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.
And since I never ever EVER want to litigate a Quiet Title lawsuit ever again, I personally want to thank Columbia (and therefore of course Shakira also), and @JoelKatz for making this happen.
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