Rosreestr will conduct experiments on the implementation of blockchain

On Tuesday, in the database of the lower house of Parliament appeared in the draft law “On digital of financial assets”. The document should regulate the cryptocurrency, ICO and mining on the territory of Russia. Also aktiviziruyutsya the development of blockchain — plans to implement the technology, told the Russian state register.

Blockchain in Russia

All conduct two experiments, according to RIA. The first focuses on creating a blockchain-registry of real property rights as part of the egrn. The second will help with the automation of legal examination of documents for real estate transactions using smart contracts. The results will be compared with the decisions of the state Registrar.

The launch of the first project is scheduled for may 14. While fixation of information in the unified state register of real estate a copy of the data will be sent to the registry on the basis of the Ethereum blockchain. Therefore, the database at the same time will store the history of ownership of a particular object.

For the stress testing of the registry, it will make 300 million records. Holders of blockchain nodes will perform the Ministry of economy, FNS and the government of Moscow.

The second project will compare the results of the state Registrar on the examination of documents on real estate transactions with the conclusions of the system based smart contracts. Their logic will automatically make the decision about registration of the transaction in a distributed network. Among the variants of implementation consider the blockchain platform Exonum, Corda and Hyperledger.

Completed both projects by mid-December.

After the end of the Rosreestr will make the decision on expediency of introduction of technology. I hope the authorities will assess the prospects and reliability of the blockchain.

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