Monday 18th May 2015
Honduras to Build Land Title Registry on the Bitcoin Blockchain
One of the poorest countries in the Americas, has agreed to use a Texas-based company to build a permanent and secure land title record system using the underlying technology behind bitcoin
Factom, a U.S. blockchain technology company based in Austin, Texas, will provide the service to the government of Honduras.
“In the past, Honduras has struggled with land title fraud,” said Kirby. “The country’s database was basically hacked. So bureaucrats could get in there and they could get themselves beachfront properties.”
Kirby said Factom started negotiations in January. The pilot project should be completed by the end of the year, with the goal of eventually putting all of the government’s land titles on the blockchain, he added – Reuters