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Blockchain is revolutionizing the way we know about administration and governance. From the issuance of graduation certificates to hosting elections – blockchain saw everything in 2018. In the latest update of the news from Teton County in Wyoming, the local administration signed a Memorandum of Understanding (MoU ) with Doctors Land Governance (MLG), a subsidiary of Overstock.com, which will help the county maintain its land records on a blockchain platform.
Doctors Land Governance will work with the local administration to migrate their land registers and title deeds from their existing system to a blockchain-based system, a press release from the states of Overstock.
With this new blockchain-based system, Medici Land Governance will use its technology to help track and record all property information, as well as making it accessible to the public. The press release also informs that once the system is in operation, all subsequent information will be automatically acquired and recorded in this blockchain-based land record system.
Ali El Husseini, PhD, CEO of Doctors Land Governance, commented on this partnership, saying:
"We are delighted to establish this partnership with a regional neighbor in demonstrating the practical long-term value of emerging technologies: Teton County in Wyoming already has a well-deserved reputation for innovative approaches that serve the coordinated interests of the local community and businesses."
"Doctors Land Governance and Teton County will work together to create a new, secure and easy-to-use blockchain digital signage platform Teton County is well positioned to consolidate its reputation as a model leader in economic and community development that emphasizes the best practices of emerging technologies. "
A number of blockchain support groups have lobbied in the United States. Wyoming has been an active center for these groups and this partnership has been made possible through groups such as the Wyoming Legislative Blockchain Taskforce and the Wyoming Blockchain Coalition. All land registry documents from 1996 will be included in this blockchain-based platform. While this is being conducted on an experimental basis, for now only in this county of Wyoming, Sherry Daigle, a Teton County employee, believes that if this is a success, it may be a model that can be replicated in all Wyoming counties.
Doctors Land Governance is a company that was built specifically for the administration of the territory with the help of blockchain technology. The company was launched in 2018 and focuses on low-cost and user-friendly land administration systems. Doctors Land Governance is part of Medici Ventures, a wholly owned subsidiary of Overstock operating in the blockchain sector since 2014. In October 2018 Medici Ventures had invested in a blockchain startup focused on the wine industry.
It is interesting to note that, even elsewhere in the world, blockchain is considered for land records. The Indian state of Andhra Pradesh is considering the development of such a system in which the title deeds will be placed on a blockchain platform. This will not only facilitate access and management, but will also ensure that they are stored in a tamper-proof and secure system.
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