Wyoming County to Develop Blockchain-based Land Record Platform

January 8, 2019

Teton County in Wyoming plans to work with Medici Land Governance (MLG)—a subsidiary of Overstock.com—to develop a blockchain-based land records and information platform in 2019.

According to a release, MLG plans to develop and implement the software needed to transfer and display information from Teton County’s current land and property titling system to the new blockchain-based system.

The new system will utilize MLG’s technologies, policies and programs to track, record and make available to the public certain information related to real property for management purposes. Once in place, the system will also automatically capture and record subsequent land administration transactions and updates to the blockchain.

“We are proud to see Wyoming lead the way in implementing cutting-edge technologies, such as blockchain, into existing markets like land registry,” said Sherry Daigle, Teton County’s county clerk. “With Medici Land Governance’s expertise, we can create a reliable property registry system in Teton County with hopes to expand into other Wyoming counties.”

All Teton County land records going back to 1996 will be recorded on the new platform, including mortgages, release of liens and other similar documents. Title information that is obscured for viewing on the current system will also be obscured from the blockchain-based system, but all public records will be available at the county clerk’s office.

“Our agreement with Teton County is another step toward a global economy where trust is generated through technology,” said Patrick M. Byrne, CEO and founder of Overstock.com. “I believe that our work in Wyoming will let us introduce blockchain-based land administration within the United States.”

Contact ALTA at 202-296-3671 or communications@alta.org.