Overstock Subsidiary to Help Liberia Digitize Services, Boost Economy with Blockchain

Overstock.com subsidiary Medici Land Governance has signed a memorandum of understanding with Liberia to help the African nation digitize government services, a news release announced on June 10.

The pro bono pilot project will explore how Liberia can strengthen its economy through blockchain and enhance interoperability between government departments. As well as strengthen the country’s capacity to generate revenues, the release notes that such infrastructure could reduce corruption.

During the project, local workers in Liberia will also be given technological trading to create sustainable jobs and ensure blockchain systems can be maintained once they have gone live. Ali El Husseini, the CEO of Medici Land Governance, said:

“Liberia is well-positioned to explore implementing a blockchain backbone for e-government, which connects the various government ministries as their services are digitized and brought online.”

According to Patrick M. Byrne, Medici Land Governance’s chairman and Overstock.com CEO, Liberia is the third country on the continent to put its suite of blockchain products to the test. He added:

“In 2019 I have been pleased and honored to see African nations growing enthusiastic about the possibility of using blockchain to accelerate their development.”

Last August, Zambia signed a MoU with Medici Land Governance that was designed to help rural landowners legitimize their estates and gain access to the financial world, in turn making it easier for the government to collect taxes.

A similar agreement was also signed in Mexico back in February.