Zambia, like many other developing countries around the world, struggles with low levels of participation in formal land registry systems. This low participation is a major barrier to financial inclusion, and hence economic development, for approximately two-thirds of the world’s population. Without formal ownership, individuals struggle to obtain access to credit and public services, while governments are limited in their ability to collect taxes, enforce property rights, and plan for economic expansion and innovation. Using blockchain and other technologies, Medici Land Governance (MLG) will create systems to collect and easily secure property ownership information.
“This momentous partnership with the Zambian Ministry of Land and Natural Resources has the potential to be a real, sustainable game-changer in reducing poverty and supporting economic development on a large scale,” said Medici Land Governance CEO, Dr. Ali El Husseini. “At Medici Land Governance, we believe that the first step toward reducing global poverty is to build a secure and stable way to record land and property rights, and using our expertise in blockchain, mobile apps, and other technologies, we are building the technology that can do that. I look forward to a future where all land and property services — including utility payments, national and municipal tax collections, and mortgages — are managed on a secure, user-friendly system that provides equal access for all people.”
As part of the MOU, MLG has agreed to deliver to the Ministry certificates of title in digital and printed form by November 30, 2018 to serve as proof of concept for a systematic, streamlined process to scale up the country’s land titling program.
Plans for the full scope of the project include developing a blockchain-based land titling program that includes a mobile platform and capabilities for mobile payments. The platform will accommodate streamlined regulations and data collection to assist future government decisions around city planning and land use.
“In my first public talk on blockchain, 500 Years of Liberalism: From the Netherlands to Cryptocurrency, I spoke about an early application I envisioned for the technology – utilizing it to lower barriers of entry to the global economy by providing secure and decentralized land and property registry. Such a registry would allow individuals across all socioeconomic classes to build equity and leverage it to their benefit, as it has done in the West for generations,” said Dr. Patrick M. Byrne, Chairman of Medici Land Governance and founder and CEO of parent company Overstock.com. “This agreement with the Zambian government is a tremendous leap toward a global economy that achieves trust through technology to the benefit of all people.”
MLG was founded in 2018 and is the 14th portfolio company in Medici Ventures, Overstock’s blockchain technology accelerator. MLG’s mission is to help individuals around the world connect with the global economy by using blockchain and other technologies to help record rightful ownership of property.
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.
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.
Source: Overstock.com, Inc.
Personally Im impressed by the quality of this. Usually when I find stuff like this I stumble it. This article probably wont do well with that crowd. Ill look around and find another article that may work. Have you considered promoting your blog? add it to SEO Directory right now 🙂
Guess how most cheaply to send a parcel or the goods from Russia to Ukraine? Just call us!, you don???¨º?¨¨t know as to send a parcel from Ukraine to Russia? We with pleasure carry out it for you!
I am going to go ahead and save this post for my sister for their study project for school. This is a beautiful site by the way. Where did you pick up the template for this web page?
great concepts, however how approximately just not blog for the day you do not have to mention quality over quantity!
Looking through your blog gives me the chance to realize precisely why I like reading things with so much understanding. It truly is wonderful to know there are still terrific authors around that will put wit into knowledgable information. I appreciate you for your contributions and eagerness to share your thoughts with us.