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Bitfury Group, Government of Georgia partner to expand blockchain land-titling project
Blockchain technology firm Bitfury Group has announced its partnership with Government of the Republic of Georgia in a move to expand historic blockchain land-titling project.
The cutting-edge blockchain project is being built with the Republic of Georgia’s National Agency of Public Registry (NAPR) that will continue to advance in 2017. The parties have also signed in a Memorandum of Understanding (MoU) in order to expand its blockchain solutions to other government departments.
“The Bitfury Group is moving full speed ahead with the innovative government of the Republic of Georgia to advance the creation of Blockchain technology pilot projects, including our Blockchain land-titling project with the National Agency of Public Registry. With this technology, where there is a will, there is a way. And thanks to the forward-looking Georgian government, there is a will. The possibilities for trusted solutions are limitless, and the land-titling project is the first of many creative solutions projects we are developing in concert with the Republic of Georgia and the Blockchain Trust Accelerator to better serve its citizens,” Valery Vavilov, CEO of The Bitfury Group, stated.
The country was named by the World Bank as one of the top three countries for simple property registration and among top 20 countries for ease of conducting business, because of its transparent and user-friendly property and business registration methods.
“The Ministry of Justice of Georgia is the leading ministry in the field of new technologies in terms of e-government, together with two other colleague ministries. We will be able to work with Blockchain technology from this summer to place real estate extracts in a totally safe and innovative system,” Tea Tsulukiani, Georgia’s Minister of Justice, said.
The groundbreaking blockchain land registry project will be continuing to foster in order to include smart contract capacities for business streamlining for NAPR. With the service, citizens can be sure that their documents are legitimate without exposing confidential data and information.
Last April, the Bitfury Group signed an agreement with NAPR to pilot the first blockchain land-titling registry in the Republic of Georgia. The collaborating parties successfully implemented custom-designed blockchain system, which is now being integrated to NAPR’s digital records system.