State register of real rights to immovable property intends to implement in the technology of the blockchain (the blockchain) until 2018, said the head of the State Agency for e-government Alexander Ryzhenko.

“By the end of this year, the blockchain technology will also be used in the Registry of property rights,” he said during the presentation of the updated Goszemkadastr on Tuesday.

A. Ryzhenko noted that the blockchain technology and combines high data security and the possibility of public control because it provides trusted data synchronization and protects them against spoofing as the result of external intervention.

In turn, the Executive Director of Transparency International Ukraine Yaroslav Yurchyshyn said that before the end of the current year the State register of proprietary rights to immovable property will be synchronized with the already clicked on the blockchain technology of the State land cadastre .

“The second stage of development of Goszemkadastr provides synchronization with the registry of rights to immovable property of the Ministry of justice. The result of this phase it will be possible to see not only exposure, but all contracts which are concluded in respect of each of the land requests, changes, and virtually in real time,” he said, adding that relevant work is already underway and expected to be completed before the end of the year.

As reported, in April the Cabinet has agreed with the American technology company Bitfury Group on creation for Ukraine, full-scale system of electronic management of Blockchain technology.

Blockchain (Rus. the blockchain) is a chain of blocks of transactions built by certain rules from the generated blocks transactions. For the first time the term appeared as the title of a distributed database that is implemented in the crypto-currency Bitcoin. A feature of the system is that it is able in real time to record and track all transactions in all applications.