A county in the U.S. state of Wyoming is the latest to embrace blockchain technology, this time through a partnership with Overstock’s Medici Land Governance (MLG).
There are many industries that rely heavily on record keeping. These include the finance- and health sectors as well as the land or building industry. As we continue to embrace digitization, it stands to reason that we would look at other ways of recording this data. This is where blockchain technology comes in.
A New Era of Record Keeping
According to reports, a county in the U.S. state of Wyoming will soon be enjoying the benefits of this disruptive technology thanks to the interest of Medici Land Governance (MLG), a subsidiary of Overstock.com.
MLG has recently signed a Memorandum of Understanding (MOU) with Teton County to assist the latter in creating a blockchain-based platform to store various land records such as mortgage information.
The CEO of MLG, Ali El Husseini, shared his excitement at the collaboration:
We are delighted to establish this partnership with a regional neighbor in demonstrating the long-term practical 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. Medici Land Governance and Teton County officials will collaborate to create a new blockchain platform for property registry that is digitized, secure, and user friendly. Teton County is well positioned to build upon its reputation as a model leader in community and economic development that emphasizes the best practices of emerging technologies.
Teton County’s County Clerk, Sherry Daigle, also discussed what this partnership means for the state:
We are proud to see Wyoming lead the way in implementing cutting-edge technologies, such as blockchain, into existing markets like land registry. With Medici Land Governance’s expertise, we can create a reliable property registry system in Teton County with hopes to expand into other Wyoming counties.
Blockchain Winning in Wyoming
Another entity showing support for the collaboration is the Wyoming Blockchain Coalition. A co-founder of the coalition, Caitlin Long, added:
It’s exciting to see Wyoming adopt blockchain technology to register and validate property ownership. Medici Ventures has been a big supporter of Wyoming’s blockchain initiatives from inception, and I’m thrilled that Teton County chose Medici Ventures for this project. This is yet another example of Wyoming blazing blockchain trails.
With Wyoming’s exuberant acceptance of blockchain, who knows what 2019 might hold for this technology’s growth in the state?
Do you think that Wyoming is becoming the blockchain hub of the U.S.? Let us know in the comments below!
Images courtesy of Pixabay.