Medici Land Governance to Develop Blockchain-Based Land Records and Information Platform in Carbon County, Wyoming

Apr 14, 2020 | Announcements

SALT LAKE CITY, Utah, April 13, 2020 (GLOBE NEWSWIRE) — Medici Land Governance (MLG), has announced it has signed a Memorandum of Understanding (MOU) with Carbon County, Wyoming to develop a blockchain-based land records and information platform in 2020. A blockchain-based registry assures immutability of records and indicates a clear chain of title.

Last year, MLG completed a project with 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. Modeled after Teton County’s success, MLG will work with Carbon County to develop and implement software that will transfer and display existing digital Carbon County public land records to a new blockchain-based registry system. The registry will serve as an archive to Carbon County’s current systems.

The system will use MLG’s technologies, policies, and programs to track, record, and make available to the public certain information related to real property for management purposes. Once implemented, it will also automatically capture and record subsequent land administration transactions and updates to the blockchain. Title information that is obscured for viewing on the current Carbon County system will also be obscured from the blockchain-based system, but all public records will be available at the Carbon County clerk’s office.

“Medici Land Governance is delighted to play a major role in Carbon County’s commitment to institutionalizing a true 21st century method of recording real property information. In partnering with MLG to securely track, record, and make land records available to the public, Carbon County, like its sister in Wyoming (Teton County), will be providing a critical layer of protection and facilitating transparency for title holders in any property transaction. These critical benefits have made MLG’s technology and products feasible and effective for e-governance purposes. We look forward to the same success in Carbon County and boosting Wyoming’s portfolio as a leader in the blockchain revolution,” says Ali El Husseini, PhD, CEO of Medici Land Governance.

“Carbon County is committed to staying ahead of the technological curve, and using blockchain technology to make our public records more secure is a demonstration of that commitment. By implementing innovative approaches to improve efficiency and security for our residents, we are ensuring Wyoming takes advantage of the crucial benefits blockchain has to offer,” says Gwynn Bartlett, Carbon County Clerk.

About Medici Land Governance

Medici Land Governance leverages blockchain and other technologies (such as cryptography, AI and others) 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. It is a subsidiary of Medici Ventures, Overstock.com’s blockchain accelerator.

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.

About Overstock.com

Overstock.com, IncCommon Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new products at low prices, including furniture, décor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by nearly 40 million customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures, its wholly-owned subsidiary developing and accelerating blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.

O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

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.

Media Contact:
[email protected]

Investor Contact:
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Overstock Logo 2017_RGB_lrgfile.png

Source: Overstock.com, Inc.

Twitter

“Blockchain offers a range of valuable qualities, particularly related to tamper-evident and permanent databases and record-keeping, that can help tackle government corruption.” Indeed, related to our @medici_land_gov mission: Read more: https://coingeek.com/can-blockchain-help-prevent-govt-corruption-wef-says-yes/

Please join us tomorrow 6/25 at 4PM CET to learn more about The Impact of Blockchain Technologies on Land Registries Systems:
Protecting Property Rights and Enhancing Land Governance. Our very own @cchrysostom will be speaking! Register here: https://inatba.org/events/the-impact-of-blockchain-technologies-on-land-registries-systems/

Today is Juneteenth, a day that commemorates the end of slavery in the United States. It is held on June 19, to mark the date in 1865 when Union soldiers rode into Galveston, Texas and told a group of slaves that the Civil War had ended and they were now free.

As a part of commitment to fight the spread of COVID-19, we at @medici_land_gov donated foot propelled hand washing machines, masks, and anti-bacterial soap throughout Lusaka, Zambia. On Monday, Mayor Miles Sampa delivered some of these donations to Vera Chiluba primary school.

Our collective hearts @medici_land_gov are heavy with the recent tragic killings of #GeorgeFloyd #BreonnaTaylor #AhmaudArbery #DavidMcAtee. There are many ways to engage and stop the spread of discrimination and support and advocate for social justice reform. #BlackLivesMatter

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