The Inter-American Development Bank (IADB) is implementing three different blockchain pilot projects to test if blockchain technology can 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 IADB 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.