Ukrainian auction is the leader of Blockchain technology in the country

During the year of its operation, the Ukrainian blockchain auction OpenMarket gained trust in the electronic platform, sold the most expensive lot in its history and was shortlisted as finalists in the global anti-corruption competition Shield in the Cloud Innovation Challenge from C5 Accelerate, which was held in March in Washington with the support of Amazon Web Services (AWS), PeaceTech Lab and SAP NS2.

Ukraine presented the world's first electronic auction in September last year. In April, the system of electronic trading of seized property (SETAM) reported the successful operation of blockchain technology and the sale of assets for 1.023 billion hryvnia, in just the first 8 months of operation. In the October report for the year, this figure reached 2.61 billion hryvnia, thanks to successfully completed 11,310 transactions. The largest of them was the sale of a complex of buildings of the Kuzminets brick factory for 170 million hryvnia. The platform also managed to offer a service for acquiring lease rights to state lands.

OpenMarket is not going to stop there and is increasing its capacity. The state-owned company plans to expand the functionality of the platform for bidders and further popularize blockchain technology in the public sector. There are currently more than 100 different registries in the country. Blockchain technology makes it possible to automate, anonymize and streamline the data storage and processing system. OpenMarket is one of the successful examples of the work of innovative technology in a state-level management system. By the end of this year, they plan to completely transfer the State Register of Rights to Real Estate to blockchain technology. The implementation of these projects became possible thanks to the support of the international Blockchain company Bitfury Grou.

This year, Ukraine is among the fourteen leading countries in the implementation of Blockchain technology. The report was compiled for The Networked Hotbeds of Blockchain, an organization that identifies key trends in the field of Blockchain and the application of its technology, by the Blockchain Research Institute.