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Wyoming continued its blockchain integration through a new partnership with the online retailer Overstock which targets ownership records, a press release confirmed on December 20.
Signing a Memorandum of Understanding (MoU) with Teton County administrators, the subsidiary of Overstock, Doctors Land Governance, will seek to develop and release a "cadastral platform and information platform" next year.
"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 registry," commented Sherry Daigle, Teton County Administrative Officer . She added:
"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."
The move is the latest in an increasing number of blockchain hook-ups involving Wyoming, which has forged a progressive position on technology in recent months.
Caitlin Long, the former senior executive of Morgan Stanley became a cryptocurrency lawyer, praised the legislators' decision to continue expanding the use of the blockchain at the state level.
"It is exciting to see Wyoming adopt blockchain technology to register and validate ownership," he added in the press release, emphasizing:
"This is yet another example of Wyoming's fiery blockchain trails."
Long is also a co-founder of the Wyoming Blockchain Coalition lobby group.
The register will provide tamper-proof records of various land-related data dating back to 1996 and will include "mortgages, release of privileges and other similar documents".
Governments have tried to save on paperwork and cut costs, while improving security and transparency with such implementations, with Sweden among those starting to use a related concept in 2018.
In March of this year, Wyoming passed a law to exempt certain types of cryptocurrency from money transmission laws, which the United States could soon replicate nationally.
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