A Memorandum of Understanding was signed between the National Agency of Public Registry and the Georgian National Blockchain Agency.
A memorandum of Understanding was signed between the National Agency of Public Registry and the Georgian National Blockchain Agency. The memorandum was signed by Mr. Ivane Tsartsidze, the Chairman of the Public Registry and the Director of Blockchain Agency Mr. Besarion Kamarauli.
The Memorandum envisages enhancement of awareness and knowledge in the field of Blockchain and distributed ledger technologies, development of professional training program, and experts involvement in finding technological solutions, as well as improving legal framework for the projects that are to be implemented.
Memorandum also envisages deepening knowledge of using Security Tokens and checking its compatibility with Business Registration system of Georgia.
National Agency of Public Registry started using Blockchain Technology in real estate registration in 2017 and is the first governmental organization in the world to introduce this innovative technology in public services. As of today, information about 2 million extracts (property ownership certificate) from the National Agency of Public Registry has been stored in the Blockchain network. Storing the information on Real Estate Transactions in Blockchain provides higher level of security and makes transactions more accessible and transparent worldwide.