A memorandum of understanding (MoU) has been signed by Medici Land Governance (MLG) with Liberia’s Ministry of Finance and Development Planning. MLG is a blockchain subsidiary of a Utah-based online retailer and technology company, Overstock Inc. The agreement is aimed at exploring the potential for the digitization of current government services and the creation of e-government platforms.
The first project in this regard is a pro bono project expected to support a Liberian government initiative- the Pro-poor Agenda for Prosperity and Development (PAPD) and the Pillar II (Economy and Jobs) in the PAPD agenda. Following that, this project would also make findings on how Liberia can be shifted to a digital and blockchain-focused economy as well as how to enable interoperability among government services.
Reportedly, Medici Land Governance will train Liberians also and equip them with the needed knowledge and during the initial phase of gathering data, create jobs. This is in order to avail of trained personnel from the implementation stage who will be needed to maintain the system. Countries like Rwanda and Zambia are also undertaking blockchain projects in partnership with MLG and now Liberia joins through the pilot project.
The CEO of MLG, Ali El Husseini said: “Medici Land Governance’s work is a major component of Medici Ventures’ goal to create a blockchain tech stack for civilization. Liberia is well-positioned to explore implementing a blockchain backbone for e-government, which connects the various government ministries as their services are digitized and brought online. 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.” “Medici Ventures aims to introduce blockchain technology to existing markets in order to “eliminate middlemen, democratize capital, and re-humanize commerce.”
The agreement with MLG is a sign that Liberia is ready to digitize its economy and move government services to a digital platform, according to Samuel Tweah, the Minister of Finance and Development Planning in a press release. “We believe that the free pilot project when implemented, will showcase Liberia’s readiness to digitize the economy and migrate to an e-government platform that will facilitate full interoperability of the Government of Liberia services and systems,” he also said.
Additionally, Patrick M. Byrne, Chairman of MLG and founder and CEO of Overstock, observed: “In 2019, I have been pleased and honored to see African nations growing enthusiastic about the possibility of using blockchain to accelerate their development. Liberia now becomes the third African country to agree to give [our suite of blockchain-based land governance products] a try.”
The state of Bitcoin in the Liberian region is controversial presently. There are no ICOs or Exchange offices located in the country and 12 ICOs have restricted Liberia dwellers to take part in their crowdfunding venture. Since this recent development is on the adoption of blockchain technology, maybe a crypto movement will follow soon.
Credits- Angeline Mbogo
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