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 partnership earlier this week on its blog, when it said the proof of concept for a land registry tool was "being evaluated by select governments worldwide".
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