Signing a Memorandum of Understanding (MoU) with administrators in Teton County, Overstock subsidiary Medici Land Governance will seek to develop and release a “blockchain-based land records and information platform” next year.
“We are proud to see Wyoming lead the way in implementing cutting-edge technologies, such as blockchain, into existing markets like land registry,” Sherry Daigle, Teton County’s county clerk commented. She added:
“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.”
The move is the latest in an increasing number of blockchain hook-ups involving Wyoming, which has forged a progressive stance on the technology in recent months.
“It’s exciting to see Wyoming adopt blockchain technology to register and validate property ownership,” she added in the press release, noting:
“This is yet another example of Wyoming blazing blockchain trails.”
Long is also cofounder of lobby group the Wyoming Blockchain Coalition.
The register will provide tamper-proof records of various land-related data stretching back to 1996, and will include “mortgages, release of liens, and other similar documents.”