Overstock.com Inc, in a press release on Monday, announced that its blockchain subsidiary, Medici Land Governance (MLG) has signed a Memorandum of Understanding (MOU) with Liberia’s Ministry of Finance and Development Planning, on the bid to digitize administrative services.
The news today kickstarts a new Ppro Bono pilot project that will explore the possibilities likely to occur in the digitization of existing Liberian government services, as well as the establishment of e-government platforms.
The country’s Minister of Finance and Development Planning Hon. Samuel D. Tweah, Jr., reaffirmed that development is purported to facilitate improved service delivery. He believes that MLG will help in achieving its national development plan.
The collaboration will reportedly not only see Liberia join other African Countries like Zambia and Rwanda in MLG project but significantly support and advance their government’s Pro-poor Agenda for Prosperity and Development (PAPD).
During the project, Liberia is poised to explore a more digital and blockchain-strengthened economy, which will feature the interoperability among government services.
MLG as per the report will officiate the training of Liberia’s labor pool to provide sustainable jobs and facilitate knowledge transfer. The project will also see the initial gathering of the technological skills and data, necessary for the system’s maintenance, once it goes live.
The CEO of MLG, Ali El Husseini, noted that Medici Land Governance works in line with the primary objective of Medici Ventures, which is to create ‘a blockchain tech stack for civilization.’
“This pilot project is an excellent opportunity for Medici Land Governance to demonstrate how we can tailor our products and services to the needs of Liberia’s government and economy,” he said.
The CEO of MLG’s flagship Overstock.com, Patrick M. Byrne, noted he was pleased with the move of African Countries in the use of blockchain to boost development.
Now with Liberia, “it is a special honor to be bringing our products into production to address challenges there,” knowing the historic connection existing between the USA and Liberia.