Overstock.com subsidiary Medici Land Governance puts Wyoming County's land records on blockchain
Tue, 18 Jun 2019, 06:14 am UTC
Overstock.com’s blockchain subsidiary Medici Land Governance (MLG) announced that it has put the land registries of Teton County, Wyoming, into a blockchain-based land record and information system.
According to its press release, land records, including warranty deeds, mortgages, the release of liens, and other similar documents, starting from 1996 are now kept on an MLG platform.
The registry, which can be tracked and viewed by the public, ensures the immutability of existing land information and provides a clear chain of title.
“This provides an additional critical layer of protection and facilitates transparency for title holders in any property transaction in Teton County,” Ali El Husseini, MLG CEO, said.
The collaboration, which was announced on December 20, 2018, makes Teton County the first US county to record its land information on a blockchain-based system.
Meanwhile, Patrick M. Byrne, MLG Chairman and Overstock.com’s CEO, stated that “The firms in our keiretsu have been building real blockchain platforms and products, and 2019 is the year that they will begin rolling out of the lab and into the real world.”
True enough, MLG just recently signed a Memorandum of Understanding to digitize the government services of Liberia. The pro bono pilot project that will look into Liberia’s potential for digitization, strengthen its economy through blockchain, and improve interoperability between government departments. Other places where MLG is developing products for use include Rwanda, Zambia, and Tulum Mexico.
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