Medici Land Governance signs landmark deal with the Government of St. Kitts and Nevis
Jonathan Johnson, CEO of Overstock.com and president of Medici Ventures; Dr. Honorable Timothy Harris, prime minister of Saint Kitts and Nevis; and Ali El Husseini, PhD, CEO of Medici Land Governance “This is another auspicious achievement as Medici Ventures advances its innovative mission to build a foundation of blockchain technology with an empowering impact on the daily life, business, governance, and economy of nations. This agreement between St. Kitts and MLG is in addition to the precedent-setting agreement our blockchain-meets-central banking company Bitt signed earlier with the Eastern Caribbean Central Bank, also headquartered in St. Kitts,” said Jonathan Johnson, CEO of Overstock and president of Medici Ventures. “Our technology stack for civilization is getting traction in this forward-looking country.”
As part of the larger group of 18 keiretsu companies under Medici Ventures, MLG’s expertise in blockchain-based land administration incorporates numerous specialized technologies. For this project, MLG will capture and incorporate high-resolution aerial imagery into a cadaster system that St. Kitts can integrate with its land administration system. This will significantly aid in estimating property and building size and value, and by taking into account St. Kitts’ valuation and assessment policies, the government can derive more accurate information for taxation and land-related revenue generation.
“MLG is delighted to play a substantial role in St. Kitts’ significant undertaking of institutionalizing a true 21st century land administration system,” said Ali El Husseini, PhD, CEO of Medici Land Governance. “This project is an excellent opportunity for MLG to demonstrate the technological expertise of a major component of its services and products for high-tech land information and management systems, which can empower the economic potential individually and collectively in many countries.”
With this project, MLG continues to expand its global presence with ongoing projects in Zambia, Rwanda, Liberia and Mexico. Earlier this year, MLG completed a project in Wyoming’s Teton County, making it the first county in the U.S. to record land information (including warranty deeds, mortgages, release of liens, and other similar documents), on a blockchain platform.
Medici Land Governance was founded in 2018 to put the power of property ownership and equity into the hands of individuals by applying blockchain and other technologies to provide low-cost, easy-to-use land administration systems. MLG is a subsidiary of Medici Ventures, Overstock.com’s wholly-owned blockchain accelerator. Medici Ventures’ mission is to introduce blockchain technology to existing markets to democratize capital, eliminate middlemen, and re-humanize commerce.
Today, Medici Ventures oversees a global keiretsu of companies building the foundation of a technology stack for civilization based on trust systems that utilize blockchain and other related technologies instead of rent-seeking middlemen. Medici Ventures’ network of companies are introducing blockchain technologies to industries such as identity, land governance, money and banking, capital markets, supply chain, and voting.
About Medici Land Governance
Medici Land Governance leverages blockchain and other technologies to support land governance, titling, and administration with a secure public record of land ownership. With land records stored on the blockchain, land ownership is standardized and can be recognized by local and global economies. Blockchain applied to land improves lives, stimulates economies, and strengthens communities. Medici Land Governance supports agencies in the digitization of their current records, engendering trust and security in data by diminishing human error and accidental damage to records.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Form 10-Q for the quarter ended
Source: Overstock.com, Inc.