Factom Partners With Honduras Government on Blockchain Tech Trial
Bitcoin 2.0 startup Factom is reportedly working with the government of Honduras on a new land title registry initiative.
Decentralized recordkeeping startup Factom has reportedly partnered with the government of Honduras on a new land title registry initiative.
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.
The initiative is notable given the Latin American nation's history of land rights abuse. Alleged corruption and mismanagement within the government of Honduras has fueled a conflict over property rights that dates back decades.
Reuters said it was unable to reach any representatives from the Honduran government for comment on the partnership.
The news also coincides with the end of Factom's crowdsale in which it sold 2,278 BTC, or roughly $540,000, in digital tokens called factoids as part of a bid to promote and build a community around its technology.
Honduras image via Shutterstock