Overstock.com’s blockchain subsidiary Medici Land Governance (MLG) launched a land administration pilot project using blockchain in the city of Monrovia, in Liberia. The pilot is a collaboration between the tech company, Liberia’s Land Authority department and the Ministry of Finance and Development Planning.
Lack of clarity in land ownership suppresses economic activity by diminishing investment in real estate and making landowners reluctant to spend on property maintenance.
MLG’s initiatives aim to democratize land ownership, especially in developing countries, by enhancing the efficiency and accuracy of land recognition and recording it using blockchain technology. The company has projects in Africa, Mexico, and other regions for land titling and administration. In Zambia, for example, MLG is in a ten-year collaboration with the government and is expected to issue land titles to millions of landowners in the country.
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