In Ukraine "the world's largest blockchain project in a public sector" is started

April 13, 2017 it became known of plans of the Ukrainian government to implement a blockchain system. Cooperation with Bitfury Group IT company was for this purpose begun, the head Valery Vavilov in an interview to Reuters news agency reported it. According to him, it is about the largest a blockchain project in public sector.

The safe state system constructed on a blockchain will be able to protect assets of billions of dollars and to make considerable social and economic impact around the world, having emphasized importance of transparency and a kontroliuyemost — Vavilov noted.

Head of Bitfury Valery Vavilov (at the left) and chairman of the State agency concerning electronic control Alexander Ryzhenko

The memorandum of understanding between Bitfury and Ukraine is signed on April 13, 2017. Valery Vavilov found it difficult to set project cost, but called the signed contract of the largest a blockchain transaction with the government for all the time.

The project assumes the translation of all state data which are stored in electronic form on a blockchain platform. Originally will transfer the state registers, social services, bodies of security, health sector and power to a new system. Further the project will be distributed to all other areas, including cyber security.

After transition to this system the government will be able to control all changes happening to state assets, in particular, results of tenders on privatization.

Absolutely new ecosystem of state projects based on a blockchain will be created, the chairman of the State agency concerning electronic control Alexander Ryzhenko noted.

Our purpose is clear and ambitious — we want to turn Ukraine into one of the world's leading countries in the field of a blockchain — Ryzhenko said.

The blockchain platform implementation project in Ukraine turned out to be consequence of the growing interest in a blockchain from government institutions of the whole world as the technology of the distributed register promotes bigger transparency and efficiency of public administration.^[1]

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