Georgia eyes onchain property rights and tokenization with Hedera partnership

Georgia's Ministry of Justice has signed a nonbinding Memorandum of Understanding (MoU) with the public blockchain network Hedera to explore integrating blockchain technology into public infrastructure. The government is considering transferring data from the National Agency of Public Registry onto the Hedera network to enhance the protection, transparency, and reliability of property rights. Additionally, Georgia is looking into the tokenization of real estate, aligning with global Real-World Asset (RWA) tokenization trends. This is not Georgia's first foray into blockchain adoption for governance; the country previously used the Bitcoin blockchain for property transaction verification in 2017. The next steps involve forming joint working groups between the Ministry of Justice, the National Agency of Public Registry, and Hedera experts.

(Source：Cointelegraph)