The Bitfury Group, one of the world’s largest full service Blockchain technology company and co-creator of the Blockchain Trust Accelerator, announced today that the cutting-edge Blockchain land-titling project it is building with the Republic of Georgia’s National Agency of Public Registry (NAPR) is successfully progressing and will continue to advance in 2017.
Thanks to this success, Bitfury and NAPR have also signed a new Memorandum of Understanding (MOU) to expand its groundbreaking Blockchain technology solutions to other government departments.
The Republic of Georgia was named by the World Bank in its “Doing Business” survey as one of the top three countries for ease of property registration, as well as a top 20 country for ease of conducting business, due to its transparent and user-friendly property and business registration systems.
“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,” said Valery Vavilov, CEO of The Bitfury Group. “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.”
Tea Tsulukiani, Georgia’s Minister of Justice, said that 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,” Tsulukiani said.
Papuna Ugrekhelidze, chairman of the National Agency of Public Registry in Georgia, added his department is:
“…very pleased with the technical progress and looks forward to continuing [their] fruitful collaboration.” “Blockchain technology is the solution for the 21st century, and is its most secure and innovative system,” Ugrekhelidze said.
Hernando de Soto, one of the world’s leading economists and an advisor and supporter of the Georgia land-titling project, said:
“By pioneering Blockchain technology, we bring the systems that 5 billion people use into the global economy.”
“I have dedicated my life to improving access to capital, and our work in the Republic of Georgia is the first in a series of many important steps to bringing corruption-proof digital systems to all,” de Soto said.
In April 2016, The Bitfury Group announced that it signed an agreement with NAPR to pilot the first Blockchain land-titling registry in the Republic of Georgia. The Bitfury Group and NAPR successfully implemented a custom-designed Blockchain system that is now integrated into the digital records system of NAPR. This private, permissioned Blockchain is anchored to the Bitcoin Blockchain through a distributed digital timestamping service. Distributed digital timestamping allows NAPR to verify and sign a document containing a citizen’s essential information and proof of ownership of property.
This important timestamping service also allows citizens to ensure their documents are legitimate without exposing confidential information. This is possible by providing citizens with unique documentation known as a “hash.” This document hash is published to the Bitcoin Blockchain and can be verified whenever a request is made, benefiting from the Bitcoin Blockchain’s unmatched security.
This groundbreaking project will continue to advance to include smart-contract capabilities to streamline business operations for NAPR, including the sale of property, transfer of ownership and more.
Blockchain technology first provides incorruptible security. A secure property registry built on the Blockchain can secure billions of dollars in assets and make a significant social and economic impact globally by addressing the rapidly growing demand need for transparency and accountability. A Blockchain-based registry also allows government and individuals the ability to audit quickly. Finally, a Blockchain-based registry allows for substantial reductions in the cost and time required to register and transfer property.
The Blockchain Trust Accelerator is harnessing one of the most significant innovations of our time – Blockchain Technology – to build solutions for social impact and governance challenges. Working together with a broad range of institutions, organizations and companies, the Accelerator generates pilot projects that deliver positive social impact along with insights into how Blockchain can enhance accountability, efficiency and transparency. The Accelerator is a partnership between The Bitfury Group, New America and the National Democratic Institute.
The Bitfury Group is the leading full service Blockchain technology company and one of the largest private infrastructure providers in the Blockchain ecosystem. The Bitfury Group develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to securely move an asset across the Blockchain. The expertise of The Bitfury Group ensures successful, easy, fast, secure and cost-effective connectivity to the Blockchain. The Bitfury Group is a global team of experts in technology, business, communications, security and civil society. The Bitfury Group believes the Blockchain can and will open new doors for global economic opportunity and prosperity, and its mission is to create and advance Blockchain applications that will further promote innovation and the advancement of the peer-to peer economy and the Economy of Things
- UC Berkeley Opens New Blockchain Lab – Steve Chen Appointed to Co-Lead Newly Formed Berkeley Blockchain Lab - December 10, 2017
- Peter Vessenes Announces Deluge Network To Support a Safe and Direct Way to Contribute Bitcoin Directly to ICOs - December 5, 2017
- EXMO Launches Token Sale with Blockstarter’s ICO Solution - December 5, 2017
- AdHive, A Blockchain-Based Native Advertising Platform, Engages with WINGS DAO Platform - December 5, 2017
- Perkins Coie Adds SEC Attorney in San Francisco with Fintech and Blockchain Experience - December 5, 2017
- Cryptocurrency Monero Announces Breakthrough Online Shopping Initiative Featuring Top Global Artists’ Music and Merchandise - December 5, 2017
- Bitcoin for a ‘bit’ of Caribbean paradise - December 5, 2017
- With the Launch of SunCoin, Solar Bankers Takes On the World’s Energy Giants - December 4, 2017
- Blockchain News Is Merging With Token Report - November 30, 2017
- Mira launches Pre-ICO for Mira – an Easy and Convenient Way to Buy, Store and Send Cryptocurrency - November 23, 2017
- Dash and KuvaCash Partner to Fight Inflation in Zimbabwe with Cryptocurrency - November 22, 2017
- INS Ecosystem Partners with Ambrosus to Overhaul the Grocery Supply Chain - November 22, 2017
- Global Debt Registry Unveils Collateral Pledge Blockchain Proof of Concept - November 22, 2017
- Ripple Appoints Former New York State Superintendent of Financial Services Benjamin Lawsky to Its Board and Ron Will as CFO - November 22, 2017
- Advised by the Co-Founders of YouTube and Twitch, Theta Announces a Blockchain-based Video Delivery Network - November 22, 2017
- Modex adds top advisor from Google ahead of ICO - November 22, 2017
- Decentralized Ad Exchange AdEx Partners with INK to Handle the World’s First Blockchain-based Ad Auction - November 22, 2017
- Zilliqa Lowers Funding Cap Despite Heavy Demand from Investors - November 22, 2017
- Health Startup Etheal Combines Blockchain Technology with Micro-Incentives to Build a Peer-Reviewed Global List of Health Professionals - November 22, 2017
- Bitquence Rebrands as Ethos.io, Charting a Course to Unlock Crypto and the Future of Investment for the Masses - November 22, 2017
- Eidoo Introduces User Friendly ICO Engine – Allowing Crypto Startups To Launch And Manage Their Own ICOs For Fundraising On The Blockchain - November 22, 2017
- Simdaq Launches Social Platform for Democratisation and Development of Cryptocurrency Trading - November 22, 2017
- Gameflip Shatters FLIP Pre-Sale Goals, Sets Sights on December 4, 2017 ICO - November 22, 2017
- Golden Alliance Gold Mining Launches Token Sale - November 22, 2017
- Genaro and Storj Labs Announce Collaboration and Product Integration - November 22, 2017
- Metal (MTL) Now Available on the Chinese Cryptocurrency Exchange - November 22, 2017
- Mark.space & Jaguar Land Rover Announce Cooperation - November 22, 2017
- Exscudo – EON Testnet Was Successfully Updated - November 22, 2017
- Valorem Foundation Launches All-new Cryptocurrency Platform - November 22, 2017
- WAX Partners with Xsolla to Offer Its Platform to More Than 2,000 Video Games - November 22, 2017
- Brave expands Basic Attention Token platform to YouTube - November 22, 2017
- Narrative Launches Blockchain Based Social Network That Puts Revenue In Your Pocket, Not Mark Zuckerberg’s - November 22, 2017
- Gladius Uses Blockchain and Spare Bandwidth to Revolutionize Cyber Security - November 22, 2017
- Indorse Announces Partnership with App Store Cryptocurrency, AppCoins, ahead of MVP Launch - November 22, 2017
- Secutix And The Paléo Festival Nyon Announce The Success Of Their Blockchain Pilot Project - November 22, 2017
- ING launches major addition to blockchain technology: Zero-Knowledge Range Proof solution - November 22, 2017
- Cofound.it Announces Teams Participating in Upcoming Live Crowdsale Event - November 22, 2017
- PUBLIQ goes public: The blockchain and AI company that fights fake news announces the start of its Initial Token Offering - November 22, 2017
- Blockchain for Business SophiaTX Reveals New Details of Platform; Confirms Date for Token Generation Event - November 22, 2017
- BCShop.io Launches Partner Program - November 22, 2017
- World’s First Social Entrepreneurship Platform Moms Avenue Challenges Etsy by Gearing Up With Blockchain - November 21, 2017
- WAX Partners with Xsolla to Offer Its Platform to More Than 2,000 Video Games - November 20, 2017
- Pundi X integrates NEM blockchain to Bring Cryptocurrency Payments Into Retail Stores - November 20, 2017
- Fujitsu Develops Security Technology to Safely Connect Blockchains - November 20, 2017
- Jibrel Network Announces a Highly Successful Pre-sale Round - November 20, 2017
- KRAFTWERK on Blockchain - November 20, 2017
- MintHealth: Empowering Patients to Take Control of their Health and Data via Blockchain Technology - November 20, 2017
- IBM Completes PoC Of Blockchain-based Shared KYC With Deutsche Bank, HSBC, MUFG And Cargill, IBM Treasuries - November 20, 2017
- LetsEnhance.io to process images on Neuromation Platform - November 20, 2017
- Blockchain And AI Researchers Propose A New Model To Return The Control Over Human Life Data To The Patients And Accelerate Biomedical Research - November 20, 2017