Medici Ventures wants to solve the problem of property in Rwanda with Blockchain – CRIPTO TENDENCIA

Registration of land titles poses serious problems for many African countries, sometimes because they use obsolete systems that often fail, or in others, because title deeds are not what they are. we usually do. the nation. This is why several organizations have tried to solve this problem with the help of Blockchain, among which Medici Ventures.

Overstock, is one of the companies that has shown itself more user-friendly with crypto-currencies and their underlying technology around the world. One of its subsidiaries, Medici Ventures, honoring Overstock's position, is trying to solve the problem of property in Rwanda by using the blockchain.

Medici is a company dedicated to commerce, development and Blockchain technology. Faithful to the blockchain, they partnered with the Rwandan government, particularly with the authority responsible for land use and management, to create a way to manage the land at the same time. 39, using this technology.

What is required is to create a platform of property rights, which will serve to secure the rights of a person on his land, while ensuring the monitoring of property under the direction of the government of the country.

This new platform will be called Medici Land Governance (MLG). The company will help the government to integrate with existing systems for these cases. Medici aims to "develop a paperless system based on electronic signatures and digital presentation of surveys for administrative processes affecting land rights and land transfers", report NCC.

Medici assures that "the GMN will also help Rwandan officials refine existing land governance processes, including simplifying the links between competent courts, government registries and public institutions." In addition, MLG will create interfaces with tax authorities in the country. country and the land administration information system in place in the country to ensure a smooth flow of work and to reduce and eliminate delays in processing. "

For Patrick Byrne, CEO of Overstock, this agreement between Medici and the Rwandan government is the perfect opportunity to demonstrate that the blockchain is a useful tool in the mission to lift people out of poverty.

"I believe that the resolution of this problem will trigger a cascade of positive developments: the two capitals will be released into the hands of the poor and free from poverty, and we hope to bring the benefits of Blockchain to the poor in Africa and the world", concluded Byrne.

Blockchain has helped many people living in poverty by giving them the opportunity to leave, not only in cases like MLG, but by offering unbanked people the opportunity to have a way of storing their funds and giving them money. To make transactions. And it is expected that other projects like these will soon be revealed, in order to make the world a better place thanks to technological innovations.

related