Overstock.com's blockchain subsidiary Medici Land Governance inks MoU with Liberia

Overstock.com’s blockchain subsidiary Medici Land Governance and Liberia’s Ministry of Finance and Development Planning have signed a Memorandum of Understanding (MoU) to digitize the government services of the African country.

According to its press release, the MoU will lead a pro bono pilot project that will look into Liberia’s potential for digitization, strengthen its economy through blockchain, and improve interoperability between government departments. The partnership also aims to fortify the country’s capacity to generate revenues and reduce corruption.

During the project, Liberia’s labor market will receive training to facilitate the transfer of knowledge, create sustainable jobs, and make sure the blockchain system is maintained once the country is left on its own.

“Liberia is well-positioned to explore implementing a blockchain backbone for e-government, which connects the various government ministries as their services are digitized and brought online,” Ali El Husseini, EO of Medici Land Governance, said.

“This pilot project is an excellent opportunity for Medici Land Governance to demonstrate how we can tailor our products and services to the needs of Liberia’s government and economy.”

The new deal makes Liberia the third African nation to implement Medici Land Governance’s blockchain-based technology after it previously partnered with Zambia and Rwanda. The company has also signed a deal with Tulum Mexico and Teton County Wyoming.

Meanwhile, Russia’s federal subject Khanty-Mansi Autonomous Okrug – Yugra has also inked a deal with Universa Blockchain to launch a blockchain-based future-oriented tourism platform with multi-language support to help connect different players in the industry. It also plans to make use of a distributed ledger technology to ensure public funds are allocated properly, thus luring more investors.