A memorandum of understanding has been signed between the Mexican government and Overstock’s Land registration division on the 4th of February 2019. In an article published by Nasdaq details about the agreement includes reference to a digital platform that will be developed to collect land registration information. Once all the information has been collected Overstock’s Medici Land Governance (MLG) and Tulum officials in Mexico will issue certificates of entitlement to landowners. Overtime the platform will also act as an automatic storage of public land transactions including transfer of land ownership.
Víctor Mas Tah, mayor of the municipality stated;
“The signing of this Memorandum of Understanding between the Municipality of Tulum and Medici Land Governance represents the beginning of a new territorial ordering stage for the digitalisation of land ownership and related processes,”Victor Mas Tah the mayor of the municipality of Tulum, Quintana Roo, Mexico.