Bitfury: Blockchain for Government

By: Elena Corsi and Mitchell Weiss

Sign Up Now! Already a Member? Log In
You must be logged into Bookshare to access this title. Learn about membership options, or view our freely available titles.

Synopsis: In the Republic of Georgia, legend had it their land was a precious gift from God he had intended to keep for his mother. But over time, the land had been under intermittent threat from without and within. In 2017, the Bitfury Group, which Valery Vavilov had co-founded, had helped publish 300,000 Georgian land titles onto the blockchain, making them immutable and, many believed, unhackable. What came next, Vavilov's team envisioned, were smart purchase and sale contracts via the blockchain; and from there, a full suite of property-related services and, eventually, blockchain as the foundation for a transformation in government services. Vavilov, who had co-founded Bitfury and expanded it substantially from its bitcoin mining roots, felt a blockchain-driven makeover of this sort would take place not just in Georgia's government, but around the world. It was not a matter of "if?" anymore; although that still left the question of "when?"