The Bitfury Group's pilot in the Republic of Georgia has resulted in the Republic of Georgia being the first government to secure land titles on the Bitcoin Blockchain. 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.Ã¢â€šÂ¬Ã¯â€ ? 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. This project is also expanding to other departments in the government. More information can be found here: http://bitfury.com/content/4press/the_bitfury_group_republic_of_georgia_expand_blockchain_pilot_2_7_16.pdf
Nominated for: Best Use of Blockchain
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. The pilot project we would like to submit for this award is our work within the Blockchain Trust Accelerator for our pilot project in the Republic of Georgia. A full project summary is shared below.