One More Ukrainian City Starts Using Blockchain Platform Auction 3.0

News and Analysis

August 5, Ukrainian city Bila Tserkva (meaning White Church) held an auction on leasing local public property, which featured usage of blockchain-based online platform Auction 3.0.

The concept of transferring the process of public property privatization in Ukraine to a completely open and decentralized system originated in the Innovation and Development Foundation (IDF). It has been developed by Distributed Lab.

The system will be tested in different Ukrainian cities sequentially. In Bila Tserkva, the pilot project focused on leasing of uninhabited premises. Unfortunately, auctions to sell national and municipal property will be held only once relevant amendments are made to the Ukrainian legislation.

Currently, each launch is performed publically and involves clarifications as to how the system works, how it reduces corruption, and how users may benefit from it.

Prior to the auction, local authorities presented the new platform, demonstrated its advantages, and clarified how to participate in the bids

After the test auction, local authorities were so pleased that now the blockchain system will be used for holding other auctions in the city.

“The city’s mayor Gennadi Dikiy ordered to standardize the process of leasing public property with Auction 3.0,” reads the IDF’s statement.

Auction 3.0 was first launched July 7 in Kherson oblast. The next city to test the platform will be either Poltava or Kyiv.

The platform was released February 22 this year, and a month later, March 23, the involved parties, including representatives for the developers, partner companies, and the Head of Odessa City Administration Mikheil Saakashvili, signed a memorandum on state-wide implementation of Auction 3.0.

“Generally, it’s a breakthrough for Ukraine in terms of implementing blockchain technology. The project’s launch will not just allow us to create a better environment for competition in quality and reliability of auction services, but also become an example of using the universal blockchain technology. My respects go to all participants of the project. My respects to the IDF,” Andriy Dubetsky of Bitcoin Foundation Ukraine told ForkLog back then.

Apart from the IDF and Distributed Lab, the list of the project’s partners includes Oschadbank and PrivatBank that had provided their infrastructure, and Microsoft, that had provided free servers for the platform’s launching and testing. The other important partner is EMK, who developed and launched the first Auction 3.0 access platform.

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