BitFury launches a blockchain project for the registration of land rights in Bermuda

BitFury launches a blockchain project for the registration of land rights in Bermuda


The supplier of bitcoin and blockchain decisions of Bitfury Group declared signing of the historical acceding to the government of Bermudians, within the framework that will inculcate blockchain  technology in the landed cadastre this oversea territory of Great Britain.

The signed memorandum about the mutual understanding is called to help in realization mission authorities of Bermuda on the improvement providing state services to the citizens, and blockchain project on registration the rights on earth, realization of that will be carried out through BitFury, will become the first application of the technology in this sector.

An agreement envisages the collaboration of BitFury with Trimble, by the local recorder rights on earth. On his terms a company will create an additional blockchain layer over the existent system Trimble, using the open source- platform of Exonum for this purpose.

The also started project will serve an educational resource for development additional blockchain decisions in other state services.

Blockchain framework with the open source code of Exonum was presented BitFury in July, 2017 and offers the enhanceable protection of data, using attachment in public bitcoin blockchain.

We will remind, a similar project on registration rights on earth in Georgia started through BitFury as early as 2016. He was extended later, supposing mass introduction blockchain service on a purchase and sale rights to property on lot lands, registration of  the new rights, and also registration mortgages on the real estate and notarial processing documents.

Before this year the government of Bermudians presented a bill that will legalize realization campaigns on the initial coin offerings (ICO) and will allow to attract foreign fintech-companies  in a region. For development of the new legislative base a working group on normatively-legal questions, that was created in November the last year within the framework governmental target group on the study blockchain technology, answers for fintech products and services.

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