[ad_1]
Land on Blockchain? Wyoming County has released its blockchain records
Wyoming has proven to be one of the friendliest in its blockchain technology approach, and is ready to take an even more active step in leveraging it. In particular, the county wants to put it to work by putting its large registers of the cadastral register on the general ledger.
While it may pass for relatively innumerable, Teton County has become one of the first to sign a MOU (Memorandum of Understanding) with the Governance of Terra Medici this week. This would officially make the county, which houses a sizeable portion of Yellowstone National Park, as well as the city of Jackson, the first to create a register on the startup company's Open Index Protocol.
MLG (Doctors Land Governance) is a newly created startup that is largely owned by the Overstock company and its blockchain investment subsidiary, Doctors Ventures.
As one of the most time-consuming elements of the bureaucracy, the Land registry system it is one that brings with it a lot of logistics and administration in order to ensure the effective storage and updating of the land as the landscape changes. This new decentralized system will see land transactions, including new and expired mortgages, along with new privileges and similar documents dating back over 20 years.
This is according to a press release that was published by Overstock on Thursday 20 December. Overstock went on to add that it focuses on preserving issues such as privacy and public accessibility.
"Title information that is obscured for display on the current system will also be obscured by the blockchain-based system, but all public records will be available at the county chancellery office,"
overstock announced in its press release.
"We are really happy to see it." Wyoming will be at the forefront of putting these technologies at the forefront of Blockchain for use in an area such as land registration and mortgages "
Teton County Secretary Sherry Daigle, who comments in a press release given Thursday, announces. Daigle emphasizes that if this new system were to prove successful, it could also be taken further into Wyoming.
Powered by the Florincoin blockchain, these OIPs index files from a wider range of distribution systems that include IPFS and a host of other solutions to store this sensitive information efficiently and securely.
"I had heard that Wyoming was very proactive and welcoming in the application of blockchain technology and I really support the efforts of this county," explained Devon James, co-founder of OIP, through a spokesperson. "I made a point to start being an assistant to the Blockchain Task Force, and I actively contributed to public discussions on the subject, but one area that interested me significantly was the project" Real Property Records on Blockchain "on which they had initially worked, because he has worked on this for over five years so far … It is a globally accessible database, allowing people to publish, view, read, sell and even control these same records, allowing them to become even more malleable for public use. "
Speaking on behalf of the Wyoming Blockchain Coalition, his Co-founder, Caitlin Long, who also works as co-president of Symbiont, which is an enterprise-based blockchain start-up, this initiative was born as an initiative under the state senator, Ogden Driskill, who has consistently brought more employees to the county to discuss this collaboration.
The state has challenged itself to become a truly innovative state, paving the way for the application of blockchain technology, with this cadastral register that is only one of the future uses. According to March reports, Governor of Wyoming had officially signed the law, a measure that allowed the exemption of utility tokens in their own. application and association with some properties of regulations and titles, together with a series of other legislative acts compatible with the blockchain.
In total, there are currently six legislative bills concerning the regulation of blockchain technology, with these waiting to be heard during the next legislative session to be held in January, said Long.
"These six legislative projects have obtained approval from joint committees, and this has effectively increased the chances they have in passing"
she said, adding:
"There will be more, this in an area where nobody has leadership, and Wyoming has moved to take it."
According to Long, he believes that this application of the blockchain technology for the creation of a land registry can be quickly followed by other applications, one of which is its use for the creation of company registration, in addition to the memorization of company records inside of the blockchain.
In an announcement made at the end of this year, the Governance of the Medici lands announced a "tandem pilot initiative with the Government of Zambia in order to create its own unique land registration system with blockchain for the developing African country. Right now, Doctors Ventures he is majority shareholder of the startup, owner of 57 percent of the shares, while the remaining 43 percent is owned by Patrick Byrne, CEO of Overstock.
[ad_2]Source link
