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The Teton County government is increasing its cyber-game with a new agreement to record land records with "blockchain", essentially a digital ledger.
Overstock.com's property rights subsidiary, Doctors Land Governance, today announced it has partnered with Teton County to develop land documentation and a blockchain-based information platform in 2019.
"We are proud to see that Wyoming is at the forefront of implementing cutting-edge technologies, such as blockchain, in existing markets such as land register," said Sherry Daigle, Teton County Officer , in a press release. "With the expertise of Doctors Land Governance, we can create a reliable property registry system in Teton County with the hope of expanding into other Wyoming counties."
Blockchain is typically used to track transactions made in bitcoins or in another cryptocurrency in a manner that is recorded chronologically and publicly.
The Teton County registration platform lands MLG technologies, policies and programs to track and record real property information for management purposes. Teton County land records dating back to 1996 will be recorded on the new platform, including mortgages, the granting of privileges and other similar documents.
The blockchain platform will only be a backup of current documents on the web, said Daigle.
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