Checked by the local government of Wyoming and Overstock to register the land on the Blockchain

The state of Wyoming is currently starting a partnership with overstock to address land records in the region. Both entities, the government and society have now signed a memorandum of understanding. The MoU was officially signed by the subsidiary Overstock, Governors of the Governance of the County of Teton.

According to the press release, land records in the region will start to be registered with blockchain technology now.

Sherry Daigle, from the Teton County Secretariat, said the government is proud to see Wyoming lead the way to blockchain technology and that the partnership provides them with all the experience they need to expand the system and use it.

The project will be used to provide tamper-proof records of land ownership data in the county. According to the press release, it includes many types of offers such as mortgages and similar types of documents. The new system will use the technology to track and record these documents, which date back to 1996.

Some of the information will be more readily available to the public, while another part of the information will be used for management. This can make the system considerably more efficient in the future, especially as it will significantly streamline the process and make it easier to search for any kind of blockchain document.

Ali El Husseini, CEO of the Medici Land Governance, said the company is pleased to create a new blockchain technology that can help the county solve the situation.

Wyoming and the blockchain

The state of Wyoming is creating a close relationship with blockchain technologies and companies that use this technology as a basis for them. In recent months, the state has already tightened partnership with many companies and is currently developing a progressive position on the acceptance of cryptos and technology of distributed accounting books.

Wyoming's decision to take the blockchain and use it at the state level was praised by Caitlin Long, a former Morgan Stanley executive who became a crypto evangelist. It is part of the Wyoming Blockchain Coalition, a group that focuses on lobbying for the use of blockchain technology in the state, both in the industrial and commercial, as at the state level.

According to her, it is very exciting to see the state and the region working to adopt technology as a way to properly register and validate the ownership of landed property there. He also stated that this can show exactly how Wyoming is "a flamboyant blockchain path" in the country.

The state also approved a law in March to exempt some cryptocurrencies from the payment of certain taxes on the laws on the transmission of money.