15:14 21.04.2017

Justice ministry preparing for introduction of blockchain technology into public register, SETAM management

Ukraine's Justice Ministry is holding consultations with U.S. Bitfury on the introduction of the blockchain technology in the operation of the ministry and state-run enterprise SETAM electronic system of trade of seized property.

"Now the Justice Ministry is holding consultations to launch the blockchain system on the SETAM platform and our public registers, which are huge databases… This is an ambitious plan we set for ourselves for the next three months," Justice Minister Pavlo Petrenko said at a press conference in Kyiv.

He said that the ministry as a keeper of 17 public registers is interested in introducing new technologies and approaches to information protection and information management. The blockchain technology is one of the most progressive ones in the world.

Petrenko said that the implementation of the blockchain technology into the operation of the SETAM should increase protection of information and provide for the impossibility of external interference in the system.

"We want that external control over the operation of the system meets the highest global quality standards," the minister said.

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