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Georgia to use blockchain to store real estate documents

Georgia plans on introducing blockchain system in 2017 for storing real estate documents, Caucasus Business Week reported.

Minister of Justice of Georgia Tea Tsulukiani told the Business Contract that Georgia has attained full technical compatibility to make the transition to a blockchain-based system.

“Thanks to efforts of Public Registry, Georgia is ready to join this system. We suppose that in 2017, as the first step of insertion of documents, we will store real estate extracts in the system. We will provide detailed information for our citizens. The main thing is that we have attained technical compatibility. As a result, Georgia will be one of the first countries in our regions and western Europe to establish this technology”, Tsulukiani said.

The news follows recent reports that the city of Rotterdam, Cambridge Innovation Center (CIC) and Deloitte Netherlands are working on a project that aims to digitally record the lease agreements of the CIC on the blockchain.

Reports also suggested China is considering implementing blockchain technology for its social security system.

By Shampa Mani
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