Medici Land Governance, a subsidiary of Overstock’s venture arm Medici Ventures, has signed a memorandum of being familiar with with a local authorities in Mexico to make a digital land data program.
According to Monday’s announcement, the memorandum of being familiar with was struck with the municipal authorities of Tulum, which is found in the condition of Quintana Roo. If created, the deal will make it possible for officials there to collect facts about land ownership and issue certificates of title to land in an effort to document such transactions quickly.
“Mexico’s adoption of innovative engineering in their land registry will boost possibilities for people to reinforce their connections to the international economic climate via rightful ownership of land,” Ali El Husseini, Medici Land Governance’s CEO, reported in a assertion.
Víctor Mas Tah, mayor of the municipality of Tulum, reported that the deal “represents the starting of a new territorial purchasing phase for the digitalization of land ownership and related processes.”
Medici Land governance secured its 1st partnerships with two condition governments in Africa: previous August, the startup signed a memorandum of being familiar with with the secretary for the Ministry of Land and Organic Means in Zambia to make a blockchain-based mostly land title registry. In November, the company secured a identical deal with the authorities of Rwanda.
In December, Medici Land Governance discovered its 1st husband or wife on the U.S. soil: Teton County in Wyoming, which employed the startup to establish a new land registry utilizing the Open up Index Protocol (OIP) and Florincoin blockchain.
Tulum seaside Quintana Roo México graphic by means of Shutterstock