Pioneering national government using blockchain for official transactions. Bitfury and the Republic of Georgia are making property transactions secure and transparent.
Bitfury, together with the government of the Republic of Georgia, has implemented a private blockchain-based system, backed by the security of the Bitcoin Blockchain, to make secure real estate transactions. This is the first time a national government has used the Bitcoin Blockchain to secure and validate official actions, bringing increased security to real estate transactions. The ledger is distributed, which mitigates the possibility of corruption, while also providing clients with secure and verifiable electronic receipts. The project will continue to reduce inequalities by addressing the need for transparency and accountability.
This solution was featured in Unchaining Land Rights market of the 2018 Global Opportunity Report, and was selected based on the criteria of that report.
How the Global Goals are addressed
Reduced Inequalities
Cutting the costs of land and property registration provides more equal opportunities for Georgians.
Peace, Justice, and Strong Institutions
While Georgia is the least corrupt nation in the Black Sea region, building capacity to reduce corruption in Georgia could influence other countries in the area.
Partnerships for the Goals
Developing and testing new digital systems for governmental use are important steps towards transferring the system to developing and surrounding countries.
Bitfury
The Bitfury Group utilizes the technology of the Blockchain to allow companies to successfully digitize their assets and safely transact them over the internet – making the world safer, simpler and more efficient.
Global Goals addressed