Yesterday, Overstock.com’s blockchain subsidiary Medici Land Governance (MLG) signed a deal with the government of West Indies nation St. Kitts and Nevis. MLG will integrate high-resolution aerial images of the country into its existing land registry. This way, St. Kitts and Nevis can more accurately track property ownership and value.
Founded last year as part of Overstock’s blockchain fund Medici Ventures, MLG focuses on leveraging blockchain and other technologies to create an immutable and standardized land ownership log. It already boasts projects in the US, Zambia, Rwanda, Liberia, plus a deal with the
local government of Tulum, Mexico.
Now, the firm will build enhance a land registry with the additional functionality of aerial images. The images will form a cadaster system, which incorporates aerial photos and diagrams to represent property.
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