Daily Management Review

Ukraine To Move Its Entire ‘Electronic Data’ Onto Blockchain Platform With Bitfury, Marking the First Ever Country To Do So


04/15/2017


The government of Ukraine moves towards an entire “secure government system built on the blockchain”.



In an attempt to store a “sweeping range of government data” on a “blockchain platform” the government of Ukrain has joined arms with the “Bitfury Group”, the latter being a “global technology company”, whereby news was confirmed by the C.E.O of Bitfury, Valery Vavilov, as a project of “probably the largest of its kind anywhere”.
 
Vavilov also added that Bitfury will cater to “Ukraine’s blockchain initiative” which highlights the said growing trend seen among government bodies that made moves towards adopting blockchain technology to achieve better efficiencies and transparency. Blockchain’s ledger transactions made their first appearance as “the software underpinning digital currency bitcoin”, whereby it has now spread across the private as well as public sectors for its “ability to permanently record and keep track of assets or transactions across all industries”.
 
According to Vavilov, the above mentioned project is the “biggest government blockchain deal ever so far”, although, at present he was unable to provide a cost estimate for the same, which involves getting the entire electronic data of the Ukraine government “onto the blockchain platform”. In his words:
“A secure government system built on the blockchain can secure billions of dollars in assets and make a significant social and economic impact globally by addressing the need for transparency and accountability”.
 
On the other hand, there are other nations, like “Sweden, Estonia, and Georgia” that are also investing in blockchain programmes. However, these are of a smaller scale which deal only with “one or two sectors”. The State Agency’s Head for eGovernance in Ukraine, Oleksandr Ryzhenko, stated:
“This agreement will result in an entirely new ecosystem for state projects based on blockchain technology in Ukraine”.
“Our aim is clear and ambitious -- we want to make Ukraine one of the world's leading blockchain nations.”
 
Furthermore, Reuters reported that:
“Ukraine's deal with Bitfury will begin with a pilot project to introduce blockchain into the country's digital platform. The areas being explored for the pilot project are state registers, public services, social security, public health, and energy”.
 
After the completion of the pilot project, the blockchain operation will be expanded into the rest of the sectors along with sector for “cyber security”. Last year, Bitfury had entered into its first government blockchain contract with Georgia’s “first blockchain land-titling registry” pilot project, whereby the said engagement with the government of Ukraine marks second such endeavour for the firm.
 
 
 
References:
http://www.reuters.com







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