Georgia explores putting its public registry on the Hedera blockchain and tokenizing real estate through blockchain-integrated government infrastructure.
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Georgia’s Ministry of Justice has signed a memorandum of understanding (MoU) with the public blockchain network Hedera, as it considers moving the country’s land registry onchain and tokenizing real estate.
According to a Monday from the Ministry of Justice of Georgia, the government signed an MoU with Hedera, a public blockchain with node operation. At a meeting between the Minister of Justice of Georgia, Paata Salia, and a representative of Hedera, the two parties discussed the potential integration of blockchain technology into public infrastructure.
Georgian officials said they are considering transferring data from the National Agency of Public Registry to the blockchain network, hoping this “would ensure even greater protection of property rights, transparency and reliability of processes.”
Also under consideration is the tokenization of real estate, in an effort that closely resembles projects.
For now, the agreement is a nonbinding MoU. The next step would be forming joint working groups with experts from the Ministry of Justice and the National Agency of Public Registry, according to the announcement.
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Georgia has long been a proponent of blockchain technology in government. In early February 2017, the government of to use the Bitcoin blockchain to verify property transactions. Reports from late April that year showed that the country had .
The push for governmental blockchain adoption has not stopped. About a year ago, the United National Movement coalition partnered with Rarilabs to release a new . Various political and technical initiatives have tried to expand blockchain use in public administration, though not all have been adopted by the ruling Georgian Dream party.
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In June 2024, Natia Turnava, acting governor of Georgia’s central bank, and Varlam Ebanoidze, head of the bank’s financial and supervisory technology development department, to explore potential avenues for collaboration in digitalizing the Georgian economy.
This followed early November 2023 reports that the central bank had as its official technology partner to develop its central bank digital currency. This followed the bank’s announcement two months earlier that it planned to conduct a .
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