According to the president of investment group Univer Taras Kozak, the government of Ukraine intends to use the distributed ledger technology for real estate title registration as of January 1st, 2018.
Referencing Ukraine’s minister of justice Pavlo Petrenko, Mr. Kozak said the system of e-auctions for arrested property SETAM will be blockchainized in a few weeks, while the register of real estate titles will be placed on a distributed ledger the next year.
“Those decisions are already made by the government, and require no parliamentary procedures. It might be the world’s first instance where such an important register is transferred to a modern and reliable platform,” Mr. Kozak noted.
Last month, the government of Ukraine and BitFury Group signed a memorandum on integrating blockchain technology in basic ledgers and confiscated property selling system SETAM.