The nation of Georgia is prepared to begin using blockchain technology for the country’s real estate documents soon, according to regional site Caucasus Business Week. Georgia’s Minister of Justice, Tea Tsulukiani, reportedly declared that the country has achieved its technical goals in that area of technology, and now plans to launch a blockchain platform to store real estate extracts. Tsulukiani credited the country’s Public Registry for the achievement:
“Thanks to efforts of Public Registry, Georgia is ready to join this system. We suppose that in 2017, as the first step of insertion of documents, we will store real estate extracts in the system. We will provide detailed information for our citizens. The main thing is that we have attained technical compatibility. As a result, Georgia will be one of the first countries in our regions and western Europe to establish this technology.”
Similar efforts have been announced in the Netherlands and Cook County, Illinois, but those plans involved smaller-scale operations that focused on individual cities and counties. If successful on a national scale, the Georgia blockchain effort would represent a significant step forward in demonstrating the technology’s usefulness for resolving real-world problems. It’s also worth noting that the Minister referred to the real estate effort as the “first step” – suggesting that the Georgian government’s long-term plans could make even broader use of blockchain technology for public document storage and services.