Hernando de Soto and Patrick Byrne Unite to Challenge Global Poverty & Inequality
GLOBE NEWSWIRE, 13 December 2017
World-renowned economist Hernando de Soto and blockchain technology leader Patrick Byrne (founder Overstock.com, Inc. (NASDAQ:OSTK) and blockchain subsidiary Medici Ventures) have formed a joint venture to develop a global property registry system to surface the property rights of billions of people in the developing world. The new company – De Soto, Inc. – brings together de Soto’s decades worth of reforms (especially regarding property rights) at the Institute for Liberty and Democracy (ILD) and Medici Ventures’ blockchain expertise to build solutions to empower individuals through recognized property ownership.
De Soto, Inc. is developing a blockchain-based system using mobile applications and social media integration that will bring to light the thousands of “disconnected ledgers” (i.e., informal ownership records) that exist at local levels in communities around the world. In doing so, it will create a global repository on which ownership and transfer can be based. The system aims to promote the interests of people who are currently operating extra-legally, as well as multinational corporations who are trying to cooperate with local owners. The company expects to launch its first pilot program in early 2018. Continue reading “Article: Hernando de Soto and Patrick Byrne Unite to Challenge Global Poverty & Inequality”
