The Bitfury Group Announces Launch of Breakthrough Blockchain Land Titling Project in the Republic of Georgia

In Partnership with the Georgian National Agency of Public Registry and World-Renowned Economist Hernando de Soto

Read the Forbes article announcing this effort here.

SAN FRANCISCO, CA — The Bitfury Group, one of the world’s leading blockchain technology companies, announced today that it has partnered with the Republic of Georgia’s National Agency of Public Registry as well as world-renowned economist and president of the Institute for Liberty and Democracy Hernando de Soto, to design and implement a Blockchain-based land titling system.
“We are uniquely positioned in the Blockchain ecosystem to support this breakthrough process, demonstrate the power of the Blockchain and assist in further developing Georgia’s modern and transparent property registry,” said Valery Vavilov, CEO of The Bitfury Group. “A secure property registry built on the Blockchain can secure billions of dollars in assets and make a significant social and economic impact globally by addressing the need for transparency and accountability.”

“We are thrilled to partner with The Bitfury Group on this important project,” said Papuna Ugrekhelidze, the Chairman of the National Agency of Public Registry of Georgia. “By building a Blockchain-based property registry and taking full advantage of the security provided by the Blockchain technology, the Republic of Georgia can show the world that we are a modern, transparent and corruption-free country that can lead the world in changing the way land titling is done and pave the way to additional prosperity for all.”

“Nearly five billion people throughout the world live without property land title records. This reality puts so many at a great disadvantage,” said Hernando de Soto, renowned economist and founder and president of the Institute for Liberty and Democracy. “This important project will show that governments that transfer their property registries to a Blockchain-based system can establish a more transparent and well-recorded system that ultimately benefits the people and advances economic opportunity for all.”

Since 2008, people have been securely and successfully transferring cryptocurrency along the secure and unalterable Blockchain. A Blockchain-based records registry provides many ways to improve and streamline record processes, reduce friction and administrative costs, uncover hidden capital, and further advance the peer-to peer economy and The Economy of Things. 
Blockchain technology can strengthen security and governance and help lay a strong foundation for profound global and social change. From safeguarding property and voting rights, to financing the work of civil society, to combating identity theft and human trafficking, there are many exciting potential uses for Blockchain technology. Pilot projects are underway around the world to harness this opportunity. The BitFury Group is leading the way in the world of Blockchain land titling.
On April 22, internationally-acclaimed Peruvian economist Hernando de Soto will give a lecture on global poverty, property rights, and international development. Attendees will hear about groundbreaking methods of fighting poverty, enhancing development, and ensuring access to property rights for impoverished or disenfranchised populations. 
The event is open to all interested in attending. The venue is the newly opened Technology Park in the Republic of Georgia. Additional information on the event can be found here.

The Bitfury Group, a leading global Blockchain technology company with offices and data center throughout the world, makes it possible to securely move an asset — peer-to-peer — across the Blockchain. The Bitfury Group develops and delivers both the software and the hardware solutions necessary to transfer highly secured applications on the Blockchain. We are a global team of experts in technology, business, communications, security and civil society who believe the Blockchain technology will change the world for the better — for all. We believe the Blockchain can and will open new doors for economic opportunity and prosperity, advance fresh applications that will further promote innovation, spread opportunity through transparent voting, small business ownership, land ownership, and global peer-to-peer support and drive the further advancement of the peer-to peer economy and the economy of things. We believe the world is changing and we are on the front lines of this groundbreaking evolution.
Rachel Pipan