The Ministry of Justice of Ukraine conducted blockchain-based trial auctions for the first time on Wednesday, Reuters reported.
The project is a part of a broader effort to enhance transparency in government transactions. Ukrainian authorities are seeking to modernize state institutions and eliminate corruption.
The Ukrainian government has been collaborating with a number of blockchain firms to integrate the technology into its processes. It teamed up with BitFury in April this year to build first full-scale blockchain eGovernance program for the country. More recently, it partnered with Propy to allow online real estate purchases by foreign investors using blockchain technology. Reports also suggested that the government plans to test blockchain implementation in the land registry system, with the pilot project expected to be launched in October.
Deputy minister Serhiy Petukhov said that the justice ministry has started using blockchain technology for auctioning seized assets. He said that the ministry also plans to transfer state property and land registries to the platform by the end of 2017.
“We want to make the system of selling seized assets more transparent and secure so that the information there is accessible to everyone, so that there aren’t concerns about possible manipulation,” he said, as quoted by Reuters.
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