More

    Overstock’s Medici Land Governance (MLG) to Use Blockchain Registry in Zambia

    Overstock Subsidiary Partners With Zambian Government For Blockchain Land Registry.

    Zambia has recently signed a Memorandum of Understanding with a subsidiary company of Overstock, which is an American retail giant. The memorandum is about a blockchain partnership that will be used for land registry made by the Zambian government. Under the contract, Overstock’s Medici Land Governance will cooperate with the government to overhaul land ownership.

    What does this mean in practice? It means that rural land owners who have not legitimized their lands yet can do so using the blockchain technology and this will grant them access to financial markets all over the world.

    Without having formal ownership of their lands, these people will face several issues whenever they need credit or even some public services. On the government’s side, it can be a positive situation as they will not be able to collect taxes more efficiently.

    By using Medici Land Governance blockchain technology, the country will modernize its systems and it will collect and secure property ownership information. The CEO of Medici, Dr. Ali El Husseini, has affirmed that this partnership has the potential to change forever the economic development of the country and to be a game-changer in reducing poverty.

    Blockchain To Help In Land Ownership

    As the blockchain provides an immutable distributed ledger, it can be a solid solution to the old-fashioned fragmented paper records and unverified claims that are still used in Zambia.

    Other countries are starting to use it as well, as the Agricultural Bank of China has recently confirmed that it had issued a way to make loans backed by land with the blockchain technology. Overstock is continuing to develop its blockchain technology on a worldwide scale.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,284FansLike
    2,759FollowersFollow
    4,131FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Indian State Telangana Govt Launches Blockchain Accelerator With Tech Mahindra

    The IT arm of Mahindra Group and the Telangana government have closed a partnership and aims to launch a blockchain accelerator that will be...

    Ripple Co-Founder' Claims His XRP Sell-Off Doesn't Impact The Market Is ‘Simply Preposterous'

    XRP Whale and former Ripple CTO argues his huge sell offs Not possible to sell off over 2% of the total supply without...

    Ripple (XRP) Price Analysis (February 19)

    Key Highlights The US dollar has now forced the XRP price value into a range trading condition. The XRP/USD price now hovers around $0.30...

    Microsoft Azure Integrates Lition’s Blockchain Tech to Scale Commercial Operations

    Microsoft is one of the fast-moving IT giants in blockchain research for leverage with their existing services. The firm recently integrated Lition blockchain which...

    European Space Agency to Use Blockchain-Powered Satellite Data For Mining Transparency

    Blockchain tech is fast on the track of providing solutions from space despite a skeptical approach towards its major use as per now ‘cryptocurrencies’....

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.