The information about the record of Real Estate is already reflected in Blockchain system. Public Register National Agency of the Ministry of Justice has already set proper changes in electronic system in motion.
Starting on 20th of February, 2017, the information about any real estate record is automatically sent to Blockchain system. The data which is in Blockchain system cannot be deleted, changed or copied and manipulated.
Checking the authenticity of real estate recors in the Blockchain network is possible for any citizen on the special website: www.blockchain.info, www.blocktrail.com, www.btc.com.
Old records, before 20th of February, 2017, can be reflected in blockchain in case the record is renewed. The information about renewed blockchain will be located in Blockchain global network. The citizens can renew the records in the internet as well as public register services, Houuse of Justice and community centers.
Blockchain is decentralized base of data. It is protected from cyber-attacks or physical destruction, because the records in the system aren’t saved in one place but it is in the whole world, saved in thousands of computers. In case of suspicious manipulation of data, all computers will be blocked automatically.
Georgian is one of the first countries where blockchain technologies achievements are used for the registration of Real Estate.