Zambia has signed a Memorandum of Understanding (MoU) with the blockchain land registry subsidiary of American retail giant Overstock, the company revealed in a press release July 31.
Under the agreement, Overstock’s Medici Land Governance (MLG) will work with the Zambian government on overhauling land ownership, allowing rural landowners to legitimize their estates and gain access to the financial world.
Blockchain land projects have been underway across the world for several years, the technology offering a promising solution to fragmented paper records and unverifiable claims.
This week, the world’s fourth-largest bank by assets, Agricultural Bank of China, confirmed it had issued a blockchain-based loan backed by land.
The company currently has fourteen ventures in its Medici Blockchain accelerator, to which MLG is the most recent addition.
The state of Wyoming is currently starting a partnership with Overstock to target land records in the region. Both entities, the government and the company, have now signed a Memorandum of Understanding.
Blockchain-based land registry firm Medici Land Governance (MLG) has launched a land administration pilot project in Liberia. The project seeks to administer proper land issuance in the West African nation.
The price of bitcoin touched new highs in 2020 and a number of supporters are optimistic that the crypto asset’s value will drive higher. In addition to this year’s bitcoin price high, around eight different countries have seen bitcoin touch all-time highs (ATH) in their local currency.
The Securities and Exchange Commission of Zambia has issued a caution to the public to beware of scammers operating cryptocurrency investment advice services. The financial regulators received information about a company called KWAKOO that was pushing an initial coin offering with dubious future price predictions.
