Medici Land Governance, a blockchain subsidiary of retail giant Overstock, announced on April 13 that they will be developing a blockchain-based land registry platform for Carbon County, Wyoming.
Per the signed Memorandum of Understanding with Carbon County, Medici will develop the platform in 2020 to provide a digital space for immutable records and a clear chain of title. The county then plans to transfer all existing information to the blockchain registry system.
This marks Medici’s second achievement in bringing blockchain technology in land record maintenance. Earlier last year, they developed a similar platform for Wyoming’s Teton County, which made Teton the first county in all of the United States to store land records on a blockchain platform.
Addressing their collaboration, Medici recently tweeted:
“Modeled after Teton County’s success, MLG will work with Carbon County to develop and implement software that will transfer and display existing digital Carbon County public land records to a new blockchain-based registry system.“
Staying Ahead of the Technological Curve
The utilization of a blockchain system for storing land information is expected to make Carbon County’s land records more transparent while adding an extra layer of security. The county will, however, exercise some censorship on the publicly available data, but people can still choose to get access to that data at the Carbon County clerk’s office.
Carbon County Clerk Gwynn Bartlett stated that by using blockchain technology for improving the land record system they intend to stay ahead of the technological curve:
“By implementing innovative approaches to improve efficiency and security for our residents, we are ensuring Wyoming takes advantage of the crucial benefits blockchain has to offer.”