Georgia Becomes First Country to Register Property on Blockchain

[Kakmakr]

Just one more reason why we should not allow dodgy developers to take over this technology. They have chosen Blockchain technology because it was decentralized and had strong security and information on this "ledger" cannot be removed or changed.

Let's hope they will use the strongest Blockchain and not a centralized Blockchain-based technology like OpenLedger or something.

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[olubams]

From my twitter feed:

Georgia Becomes First Country to Register Property on Blockchain

On Tuesday, in Tbilisi, the government of Georgia signed an agreement to use the Bitcoin Blockchain to verify property transactions.

Last April, the Georgian government and Bitcoin company BitFury initiated a project to record land titles on the Blockchain.

This is the first time a national government is using the Blockchain to safeguard and authenticate state operations, therefore ushering in a belief in the technology that has wrongfully been painted black.

https://cointelegraph.com/news/georgia-becomes-first-country-to-register-property-on-blockchain

That's a good move and very encouraging one at that but the issue here is the adoption of the block chain technology which I am sure banks and other financial institutions are equally considering adoption but my fear is for them not to eat the food and then abandon the pot in the sense that after they have used the technology, they then find a reason to dump bitcoin or even work against its recognition by government...

[Jet Cash]

I thought it was called Bitcoin and not "clog up our blockchain with useless unrelated info". This is really bad imho - don't we have enough trouble with recording payments without adding this sort of stuff.

On another note - what a great idea for a Bitcoin developer to start up an asset recording blockchain.

[Dudeperfect]

That's a really positive thing that more and more countries are accepting blockchain technology for their various activities. I am sharing some interesting links from highlighting that countries around the world are showing interests in blockchain technology,

* Bitland Puts Land Titles on the Blockchain in Ghana.

* Sweden tests blockchain technology for land registry.

* ICICI Bank executes India’s first banking transactions on blockchain in partnership with Emirates NBD.

* What is ‘blockchain’ and why ICICI Bank’s use of it is a big deal? .

and as a first blockchain product, I think this is very positive news for bitcoin.

this is a great news for banking private sector in india .they are adapting to new things .i have a doubt though that is STATE BANK OF INDIA is going to start the blockchain banking transaction ? If yes, it will be great for the future.

See, it all depends on the cost of the transaction. If banks find that the blockchain technology is far superior and cheap than current traditional banking system then any bank would be happy to use it as far as they find it secure and user-friendly. However, since SBI is a public bank, there are some different matters associated with it.

P.S - I hold some few shares of SBI so as an owner I would be happy to see blockchain technology in my bank, lolz  .

[Hydrogen]

As an american, it annoys me how countries like georgia can pass laws like this one that are cutting edge and revolutionary while my own lawmakers are like fat cows, stuck in the mud, unable to do anything useful for their own people.

In theory america the greatest country in the world.

But in reality, countries like georgia make us look completely useless when they pass laws our own senate couldn't pass in 20 years because of how dysfunctional and corrupt our political system has become.

[romero121]

This is an long back news which made an  advancement in the use of blockchain technology. Georgia has amade a hyperledger project which holds the entire database in a chained network to serve the entire population of the country.