Ukrainian Ministry of Justice to Start Deploying Blockchain Solutions

News and Analysis

According to a Facebook post by Konstantin Yarmolenko, the head of state agency for e-government of Ukraine, the country’s ministry of justice has announced it is ready to deploy blockchain solutions in basic ledgers and the system of escheat realization.

Mr. Yarmolenko, who is also Bitcoin Foundation Ukraine board member, noted that the statement originally came from Pavlo Petrenko, Ukraine’s minister for justice.

“It’s fantastic news! Basic ledgers of the ministry of justice is about registering all real estate transactions in the country. It’s about selling seized property for billions of hryvnias every year,” he wrote.

While recalling that the ministry is widely criticized for high level of corruption and non-transparency in government systems, Mr. Yarmolenko noted that blockchain technology would render manipulations with records in government ledgers impossible both from inside in case of bribery, or from outside in case of cyber attacks.

“The ministry has a great chance of leaving its status of criticism target behind to become a leader in blockchain deployment not just in Ukraine, but worldwide,” he added.

Mr. Petrenko’s press conference, where he announced the ministry’s readiness to start deploying blockchain solutions, was held April 20th.

Last week, Bitfury has announced its partnership with the government of Ukraine to provide a wide range of blockchain-based solutions for public management.

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