2018-8-1 20:28 |
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.
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