Ukraine Turns to Blockchain to Boost Land Ownership Transparency
- Move to be important element of land reform, official says
- Ukraine picks BitFury to launch platform, following Georgia
Winter wheat is inspected in a farmer's field operated by Mriya Agro Holding Plc in Ternopil, Ukraine, on Friday, May 2, 2014. The U.S. is the top wheat shipper, while Russia ranks fifth followed by Ukraine.
Photographer: Vincent Mundy/BloombergThis article is for subscribers only.
Ukraine will use blockchain technology to manage its registry of farmland, saying its current system is vulnerable to fraud that leads to conflicts over ownership.
The move will increase transparency and boost trust in the registry, First Deputy Agriculture Minister Maksym Martynyuk said at a news conference in Kiev on Tuesday. Transparency International -- which ranks Ukraine 131st-worst of 176 countries in its corruption perception index -- will be an international auditor of the project, he told reporters.