In a press release issued on June 10, 2019, Overstock.com announced that its blockchain subsidiary, Medici Land Governance (MLG) had inked a Memorandum of Understanding (MoU) with Liberia’s Ministry of Finance and Development Planning.
Liberia Opens up to Blockchain
Liberia has become the latest African nation to join the blockchain bandwagon as its Ministry of Finance and Development Planning signed an MoU with Overstock’s blockchain offshoot MLG.
Per the MoU, a pilot project exploring the benefits of digitization of existing government services will soon be launched in Liberia. Notably, MLG already has two ongoing national-level blockchain projects in Rwanda and Zambia. With Liberia joining the ranks, MLG has added yet another developing market to its rapidly expanding business empire in Africa.
The partnership aims to help the involved parties meet the targets laid out in Pillar II (Economy and Jobs) as specified in the Liberian government’s Pro-poor Agenda for Prosperity and Development (PAPD).
As part of the pilot project, MLG will aid Liberians with skill-enhancement training to boost the employability of the existing workforce. The two parties will jointly work towards the implementation of distributed ledger technology-powered (DLT) solutions that would weed out rampant corruption from the country and bolster the government’s revenue generating avenues.
Ali El Husseini, CEO of Medici Land Governance, 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.”