Russia considers the use of block-chain technology in the real estate industry


nnnThe Russian Federation Ministry of Communications said the department is considering the block chain technology used in the real estate industry, as well as real estate registration and cooperation in housing projects.n
nnTranslation: Clovern
nRussian Federation Minister of Communications Nikolai Nikiforov told reporters that the department is considering the block chain technology used in the real estate industry, as well as real estate registration and cooperation in housing projects.n
nA block chain is a distributed database that maintains a growing list of records, records the so-called blocks through timestamps, and associates with previous block chains. In particular, a database of transaction record information of the world’s most popular digital currency bitmaps based on this technology.n
nNikiforov said:n
nnFor example, we are considering the use of block-chain technology in the work of institutions such as the Federal Cadastral and Survey and Registration Service, in particular by considering the use of automatic real estate transactions as pilot projects in transactions related to asset construction and joint housing development Block chain. “n

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