Wyoming signs the MoU with Medici to store land records on Blockchain

A province in the blockchain-friendly state of Wyoming intends to place its cadastral register on a distributed ledger. The Teton County (23,265 inhabitants), which includes the city of Jackson and part of Yellowstone National Park, has signed a memorandum of understanding (MOU) with Doctors Land Governance (MLG).

The startup, which is mainly owned by the blockchain division of Overstock.com Medici Ventures, will create a new register on the Open Index Protocol (OIP). The new platform will follow all land transactions, such as mortgages, licensing releases and comparable documents, starting in 1996, Overstock said in a press release on Thursday, adding that it will preserve the protection of active privacy and public access.

The press release says
"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."

Sherry Daigle, the Teton County administrative clerk, said "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." The press release also said that if the new system is successful, it can be expanded to other Wyoming counties.

OIP indexes records from storage or distribution systems such as IPFS and others that use the Florincoin blockchain.

Co-founder OIP Devon James say "I had heard that Wyoming was working to proactively welcome blockchain and I wanted to support their efforts, I started to attend the Blockchain Task Force meetings and contributed to their public discussions, but I was particularly interested in their "Real Property Records on Blockchain" initiative because the specifications we have been working on for almost 5 years … is a worldwide public database where anyone can publish, read, show, sell or check records, making it perfect for their use case. "

According to Caitlin Long, co-founder of the Wyoming Blockchain Coalition and former chairman of the startup blockbain company Symbiont, the initiative began as an initiative of state senator Ogden Driskill, who brought quite a bit to the desk. 39; of county employees and James. negotiate collaboration.

Wyoming intends to become a leader among states in supporting blockchain technology for some time: in March the governor signed an invoice exempting utility chips with some ownership of securities regulations and recently a reiteration of similar invoices.

There are a total of six draft laws on the blockchain now waiting to be taken into account during the next legislative session in January, said Long. "These bills have been approved by joint committees and have increased the chances of passing in. There will be more, this in an area where no one has leadership, and Wyoming has moved to take it."

For a long time he trusts that the ground initiative will be followed by others and the next action for the state will be to incorporate blockchain on all of his company registrations and company documents.
At the start of this year, the Governance of the land of the Medici announced a trial with the Government of Zambia to build a cadastral block register for the African country. Medici Ventures owns 57% of the startup and Patrick Byrne, CEO of Overstock, owns the balance.