Colombia: Legislator Wants to Replace Notaries with Blockchain

The representative to the Chamber in Colombia, Mauricio Toro, announced on his LinkedIn profile the new project that intends to apply in the Latin American country. This new proposal tries to return something virtual to notaries by the hand of the technology blockchain.

With this initiative, Toro seeks to eradicate the problems that come with carrying out any procedure that involves the presence of a notary, such as the high cost of documentation, the long broadcast time and even the long queues that citizens must make.

Mauricio Toro proposes replacing notaries with blockchain technology in order to offer, in addition to an easy and digital service, also a reliable one in which the procedures carried out are backed by the block chain and thus avoid fraud of any kind.

However, according to the web portal “Week” Mauricio intends to leave at least one (1) physical location in each municipality of the Colombian territory so as not to leave aside people who do not have internet service and/or who do not have the possibility of connecting to it and therefore they cannot carry out the procedures virtually.

Mauricio Toro has an estimate of carrying out the bill on July 20 of this year which will then need the use by citizens of the ID digital. Process currently being carried out by the National Registry of Civil Status.

Regarding the people who currently hold a position in notaries, they will be relocated to new positions necessary to carry out the new project.

In the same way, there will be a range of three years in which the adoption of virtuality will be worked on and also the job stability of the officials who occupy their jobs in the notary offices.

Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.

Source link

Scroll to Top