Georgia’s Ministry of Justice has entered into a strategic partnership with Hedera, exploring the use of blockchain technology to modernize its land registry system and facilitate real estate tokenization. The agreement involves transitioning data from the National Agency of Public Registry to the Hedera network, aiming to enhance property rights protection, transparency, and processing reliability. The Ministry’s plans also include incorporating blockchain for real estate tokenization, aligning with broader initiatives in this space. 🤝 Currently, the agreement remains non-binding, prompting the formation of joint working groups between experts from the Ministry of Justice and the National Agency of Public Registry. This initiative follows Georgia’s previous commitment to using blockchain technology in property transactions, which resulted in over 100,000 property records being registered on the Bitcoin blockchain in 2017. The nation has consistently demonstrated its enthusiasm for incorporating blockchain into public administration initiatives, including a partnership with Rarilabs for a new blockchain solution for public sector operations. Moreover, collaboration efforts are underway between Georgia’s central bank and Ripple to explore digitalizing the Georgian economy. The central bank is currently piloting a limited-access version of its CBDC, and has selected Ripple Labs as its official technology partner.