Overstock’s Medici Land Governance Signs to Help Liberia Ministry Of Finance And Development Planning
Overstock.com’s blockchain subsidiary focused on land administration, Medici Land Governance has signed a Memorandum of Understanding (MOU) with Liberia’s Ministry of Finance and Development Planning.
According to the Mou, both Medici Land Governance and the Liberian government will work on a non-profit project that will look into the country’s potential for digitization, stimulate its economy through blockchain, and improve interoperability between government departments. They also have a shared goal to strengthen the country’s potential to create revenues and diminish corruption.
Through this 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.
Ali El Husseini, the head of Medici Land Governance said:
“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. 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.”
Notably, this MoU makes Liberia the third African nation to implement Medici Land Governance’s blockchain-based technology after it previously partnered with Zambia and Rwanda. They have also inked a deal with Tulum Mexico and Teton County Wyoming.
More about Medici Land Governance
Medici Land Governance uses blockchain and other technologies to provide user-friendly, low-cost land administration systems. As a public benefit corporation, they pledge to promote economic development and full financial inclusion by helping individuals in developing countries to establish formal ownership of their property.
The results of their combined efforts include developing economies contending efficiently in the global economy with clear property ownership. Aspiring entrepreneurs can gain access to credit and public services. Additionally, governments can more effectively generate revenue, enforce property rights, and support functioning property markets.