Overstock’s Medici Land Governance to Use Blockchain with the Rwandan Government
Medici Land Governance (MLG) a subsidiary of Overstock just announced that they have signed a Memorandum of Understanding (MOU) with the Rwanda Land Management and Use Authority (RLMUA) and the Rwanda Information Society Authority (RISA). The MoU will be aimed at implementing the company’s blockchain based land management technology to the context of Rwanda.
Rwanda, just like most developing nations in the world, is confronted with an efficient and accurate land registry. This creates a problem when it comes to ownership and property rights. It also makes it challenging for governments to collect taxes but clear property ownership and transfer is advantageous for the community as well.
Through this initiative, MLG wants to start a paperless practice that depends on electronic signatures and digital lodging of polls for the administrative processes that influence land rights. The new operation will enable enhanced interaction within government bodies and individual landholders. Fair asset management and transfers will be ensured by distributed ledgers.
Dr. Ali El Husseini, the CEO of MLG thinks that Rwanda has the capability to understand the value of setting systems that strengthen the rights of land ownership. It is essential to boost agricultural productivity and long-term economic growth.
“At Medici Land Governance, we appreciate the clear objectives and strategic roadmap the Rwandan government has outlined toward economic empowerment. By using our expertise in blockchain, mobile apps, and other technologies, we can help Rwanda fulfill the goals of its major land reform efforts in standardizing land ownership on a digital, secure, user-friendly system that provides equal access for all people in a timely, responsive manner.”
Notably, this is the second MoU the company is signing in Africa. The first one was with Zambia. The memorandum was about a blockchain partnership that will be used for land registry made by the Zambian government. It was signed by Trevor Kaunda, Permanent Secretary of the Ministry of Land and Natural Resources in Zambia.