Medici Land in blockchain deal with another Wyoming County

Apr 14, 2020 | Press

This article appeared in Ledger Insights on April 14, 2020.

Today Medici Land Governance (MLG), an indirect subsidiary of Overstock.com, announced it signed a Memorandum of Understanding with Carbon County, Wyoming. The deal involves developing a blockchain-based land record platform this year.

This follows a previous project for Wyoming’s Teton County completed last year. MLG has also carried out property registry projects in Zambia, Rwanda, Mexico and the Caribbean.

A key benefit is the immutability of a ledger, making it harder to steal real estate titles after the details are stored on a blockchain. However, no solution is full proof, and there’s still scope for manipulation before storing data on the blockchain.

The MLG blockchain system records land ownership as well as mortgages and other liens on properties.

“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,” said Gwynn Bartlett, Carbon County Clerk.

The new Carbon County platform will act as an archive for the existing land record system. And once it’s in production, it will capture and record subsequent transactions.

“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,” said Ali El Husseini, PhD, CEO of Medici Land Governance.

There are numerous blockchain real estate and land registry projects around the world using other platforms, including in Vermont, South America, Abu Dhabi and Dubai in the UAE, India, UK and South Africa.

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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