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SETS sells by using the blockchain

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Already spent almost 25 thousand electronic trading

From September 2017, using the blockchain, was held to 24.2 thousand electronic auctions of seized property, including successful and 4.4 thousand the Total amount of sales amounted to UAH 692 million. All bets at auctions were hashed and stored. About it reports a press-service of the Ministry of justice.

“The Blockchain technology makes it possible to eliminate any opportunity for data manipulation. However, any of the bidders will be able to check that data were entered into the database unchanged”, – stated in the message.

As you know, Ukraine is in the list of 14 countries that are considered to be leaders in the implementation of blockchain technology. The list was compiled in the framework of the report, The Networked Hotbeds of the Blockchain, which defines the key hubs in the technology development.

Help. The Blockchain is a modern technology for distribution of data, the idea of which is to function without Central leadership. The use of the blockchain provides the possibility of system operation without intermediaries, which improves transaction speed, significantly reduce expenses and prevent corruption. Protection and preservation of the data is carried out using powerful cryptographic algorithms.

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