Overstock.com, Inc. (NASDAQ:OSTK) announced Monday that its blockchain subsidiary Medici Land Governance has signed a memorandum of understanding with Liberia’s Ministry of Finance and Development Planning.
Medici Land Governance is focused on land administration. The agreement will lead to a pilot project exploring the potential for the digitization of government services in Liberia.
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During this pilot project, Medici Land Governance aims to bring training to Liberia’s labor market and to “facilitate knowledge transfer” and create sustainable jobs, according to a press release.
“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 Land Governance CO Ali El Husseini, Ph.D said in a statement.
Overstock shares were trading higher by 1.48 percent at $9.63 at the time of publication Monday.
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