Factom Partners with Honduras Government to Build Blockchain-backed Land Registry

Blockchain-based record keeping solutions provider Factom has officially stalled its Honduras land title registry initiative announced earlier this year, due to complex political issues and procedures. The company has communicated with policy experts and land title software developers to discuss the future of its project. “I’ve had humbling conversations with many smart people in the world of international land title including a CEO of major title insurance company, international policy experts, and companies that have built and sold land title software for decades. They all agree that....

Decentralized recordkeeping startup Factom has reportedly partnered with the government of Honduras on a new land title registry initiative. Reuters reported that the Texas-based company, in partnership with title software firm Epigraph, was working with the Honduran government to develop "a permanent and secure land title record system" using the bitcoin blockchain, the distributed ledger that tracks all bitcoin transactions. Factom president Peter Kirby told the publication that discussions with the Honduran government began earlier this year. However, the company first hinted at a....

The use of bitcoin technology in the real estate industry has been one of the newer areas of development for the cryptocurrency these days, and Honduras has shown some progress in incorporating the blockchain in creating a registry for land titles. The country, which is one of the poorest nations in the Americas, has grapped with land title issues in the past. In particular, the land title database has frequently gotten hacked, allowing some bureaucrats to conduct fraudulent operations in securing properties. Bitcoin Technology Applications. Texas-based company Factom confirmed this....

Blockchain recordkeeping startup Factom has issued new public comment on its long-contentious partnership with the government of Honduras, calling a previously announced proof-of-concept "stalled". In a new blog post, Factom CEO Peter Kirby spoke generally about the difficulties of working with global governments on land title projects, but also addressed past questions about the validity of the initiative. Controversy arose earlier this year when doubt was cast on a rumored partnership between Factom and the government of Honduras, which would have found the Central American nation....

The year 2015 has been great for Bitcoin and blockchain technology. In fact, some of the best real-world adoption use cases for blockchain technology came in the form of Factom securing a land registry deal with the government of Honduras. Or that is what everyone was led to believe at last, as it turns out the project is nowhere near being finished, nor is there an official deal between both parties as of right now. According to a recent document that appeared online, there seems to be some confusion regarding Factom’s deal with the Honduran government. Based on earlier reports –....