Washington-based Inter-American Development Bank (IDB)has collaborated with blockchain platform ChromaWay on an initiative focusedaround land administration and registry.
The project, titled “Distributed LEDGER Technology(Blockchain): The Future of Land Titling and Registry”, is a two-year initiativethat will be carried out in Bolivia, Peru, and Paraguay and will launch inNovember 2019.
The blockchain project will be closely aligned with theIDB Lab – an innovation laboratory of the IDB Group and LAC-Chain, an allianceto promote the use of blockchain in Latin America and the Caribbean. To work onthis project, ChromaWay will team up with software firm Jalasoft and will use acomprehensive open source suite of blockchain-related technologies for theproject. These technologies include Postchain — a blockchain ledger technologyrooted in relational databases and Rell — the purpose-designed programminglanguage for blockchain and smart contracts.
In September, The Block reported about WellsFargo’s plans to pilot the financial services firm’s new internalsettlement service ‘Wells Fargo Digital Cash’, which will run on the company’sfirst DLT platform. The service enables the company to complete internal booktransfers of cross-border payments within its international network usingdigitised cash, which will be exchanged among the network.
Banco Santander also announced the issuance of its first end-to-end blockchain bond in a move that is seen as an important step towards a potential secondary market for mainstream security tokens in the future. In order to issue the bond, Banco Santander used the public Ethereum blockchain that allowed the bank to tokenise the bond securely and registering it in a permissioned manner on the blockchain.
