Overstock, a US-based online retailing giant which is known for selling a truckload of diverse products, including furniture, rugs, jewelry, electronics, etc., at low prices, has partnered with the Zambian Ministry of land and natural resources to foster blockchain and systematic land governance development, according to a press release.
This agreement witnessed, Trevor Kaunda, the permanent secretary of the ministry of land and natural resources in Zambia, signing a Memorandum of Understanding (MoU) with the Medici Land Government, a subsidiary of Overstock.
A pitiable plight is that citizens of Zambia cannot access public services, dashing limitations to the government collecting taxes, enforcing property rights and planning for economic innovation. This terrifying condition reveals to the world how Zambia struggles stiffly with low participation in formal land registry systems that has drawn financial & economic development to the mud.
Thus, this collaboration makes Medici Land Governance (MLG) boastfully acclaiming to create platforms enabling the collection and easily secured property ownership of information.
Dr. Ali El Husseini, the CEO of Medici ventures tagged the partnership with the African country “Momentous.” He furthermore asserts, “the partnership has the potential to be a real sustainable game-changer.”
He also keyed into the realization of poverty alleviation and economic development on a large seemingly fruitful scale. His assertions narrowed to the point of him favorably setting up a standardized platform where all payments, mortgages, and services can be easily accessed and utilized by all.
This clearly shows the aim of Medici ventures to help record rightful ownership of properties, uniting individuals around the globe by sharing economic gains through blockchain technology
Indeed, this new development will bring joy to the heart of the Zambian government, while taking Africa one step closer to the revolutionary blockchain technology.
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