Bitfury Signs Blockchain Partnership with Ukrainian Government

Thursday, April 13, Bitfury Group has announced its partnership with the government of Ukraine, to bring a range of Blockchain solutions to the electronic services of the latter.

In an interview with Reuters, Valery Vavilov, CEO of Bitfury, has pointed out that the newly announced initiative is a sign of growing interest in the Blockchain technology among governments of the world.

"A secure government system 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," Vavilov commented.

Modernizing the existing electronic services has been a long-term goal of Ukraine’s State Agency for E-Government, headed by Oleksandr Ryzhenko.

Blockchain serves as one of the key technologies in this effort, as it allows for massive increases in efficiency and transparency of the processes.

The new program aims to put almost all of the government’s electronic data on the Blockchain. That is unprecedented among similar initiatives previously launched by other governments, as they were mostly limited to specific sectors, such as land titles and real estate ownership.

"Our aim is clear and ambitious -- we want to make Ukraine one of the world's leading Blockchain nations," said Ryzhenko.

Bitfury Group is a company which delivers various software and hardware Blockchain solutions to businesses, governments, organizations and individuals. Earlier this year, Bitfury has announced a similar partnership with the government of Georgia, albeit on a lower scale.