Georgia’s government has experimented with blockchain in a land registry project developed with the Bitfury Group, dubbed the National Agency of Public Registry (NAPR).
“The Bitfury Group and NAPR implemented a custom-designed blockchain system that is now integrated into the digital records system of NAPR,” Willem-Jan Bruin, the director for Western European blockchain-based solutions at BitFury Group, told Computerworld UK.
“This private, permissioned blockchain is anchored to the Bitcoin blockchain through a distributed digital timestamping service. Distributed digital timestamping allows NAPR to verify and sign a document containing a citizen’s essential information and proof of ownership of property.
“The importance and disruptive potential of the project lies in its ability to make land titles – and, in general, property rights – available to billions of people who are currently unable to legally register their property. Blockchain technology also permits significant time and cost savings in the registration process. Therefore, the blockchain land-titling project could have a big global impact beyond Georgia.”