Georgia Expands Project to Secure Land Titles on the Bitcoin Blockchain
The Republic of Georgia has formally teamed with Bitfury Group, a provider of blockchain infrastructure, to use the bitcoin blockchain to validate property-related transfers, according to Forbes. Bitfury Group first partnered with the Georgia government last April to register land titles using a private blockchain and to verify them using the public bitcoin blockchain. This marked the first time a national government used the bitcoin blockchain to validate and secure government actions. Parties Expand Agreement. The Georgian National Agency of Public Registry (NAPR) and Bitfury have agreed....
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On Tuesday, in Tbilisi, the government of Georgia signed an agreement to use the Bitcoin Blockchain to verify property transactions. Last April, the Georgian government and Bitcoin company BitFury initiated a project to record land titles on the Blockchain. This is the first time a national government is using the Blockchain to safeguard and authenticate state operations, therefore ushering in a belief in the technology that has wrongfully been painted black. First-time government Blockchain. As a matter of fact, the private Blockchain that will be an alter-proof ledger will also be....
Bitcoin mining company BitFury has inked a deal with the Georgian government to develop a system for registering land titles using the blockchain. BitFury will help develop the platform for the National Agency of Public Registry, an office of the Georgian Ministry of Justice. Economist Hernando de Soto will assist in the development of the platform. Today de Soto is set to give a lecture on related issues during an event in Georgia's capital, Tbilisi. Papuna Ugrekhelidze, chairman of the NAPR, said in a statement that the project can boost title transparency and reduce the prevalence of....
The use of bitcoin technology in the real estate industry has been one of the newer areas of development for the cryptocurrency these days, and Honduras has shown some progress in incorporating the blockchain in creating a registry for land titles. The country, which is one of the poorest nations in the Americas, has grapped with land title issues in the past. In particular, the land title database has frequently gotten hacked, allowing some bureaucrats to conduct fraudulent operations in securing properties. Bitcoin Technology Applications. Texas-based company Factom confirmed this....
In April 2016, the Republic of Georgia’s National Agency of Public Registry (NAPR), renowned Peruvian economist Hernando De Soto, and Bitcoin company Bitfury announced a partnership to design and pilot a blockchain land-titling project. Now, Bitfury and NAPR have signed a new Memorandum of Understanding (MOU) to expand the blockchain solutions developed by the project to other government departments. “There is a great deal of unrest around the world due to broken and friction-filled systems, and governments, institutions and businesses are looking for better solutions that can serve the....
The Republic of Georgia’s National Agency of Public Registry, renowned Peruvian economist Hernando De Soto and Bitcoin company BitFury announced a partnership to design and pilot a blockchain land titling project, Forbes reports. The announcement was accompanied by a signing ceremony at the Georgian Ministry of Justice. “By building a blockchain-based property registry and taking full advantage of the security provided by the blockchain technology, the Republic of Georgia can show the world that we are a modern, transparent and corruption-free country that can lead the world in changing....