Ukraine’s Ministry of Finance announces Blockchain implementation

Ukraine’s Ministry of Finance announces Blockchain implementation

ukraine e-auction innovation and development foundation

Ukraine wants to be a leading nation in Blockchain technology use. The Ministry of Finance will use E-auction solution from a company called Distributed labs in order to sell government assets and curtail rampant corruption in the current system. As Minister of Finance Olekssandr Danlyuk stated, “We would like Ukraine to be the first country in the world that use Blockchain in selling state assets transparently, at the highest price, without corruption and I believe the Blockchain can do that.” This implementation would reduce costs because of no paper work. The e-auction project was first created by Innovations and Development Foundation co- founded by Mr. Lasha Antadze.

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