Technology

Blockchain first used in public services in Kazakhstan

Archive photo: Kazpravda.kz/Talgat Akhanov
The State Corporation Government for Citizens was the first to introduce Blockchain technology into the processes of providing public services. So far, we are talking only about registering a real estate mortgage agreement by individuals, but this experience can be used for other public services too, Kazpravda.kz reports.

It is reported that the Blockchain system is a technically built block chain, which completely excludes the possibility of transferring data to third parties.

According to the Board chairman of the Government for Citizens State Corporation, Asemgul Baltasheva, the use of Blockchain technology made it possible to maximally simplify the process of registering a pledge agreement.

"Previously, it took longer to register a pledge agreement: one had to contact the PSC or the egov.kz portal to obtain information on registered rights (encumbrances) to real estate, and then provide it to the bank. Now the data is verified automatically when a bank employee forms an application," Baltasheva said.

She added that Blockchain technology enabled reducing the service delivery period from three working days to one, significantly optimizing the package of required documents to the bank.

Now the service recipient, having familiarized himself with the pledge agreement in the bank's information system, signs it with his EDS, and the finished result in the form of a notification of state registration of encumbrance of rights to real estate is sent to the service recipient's personal account on the egov.kz electronic government portal.

In the process of choosing the Blockchain technology, such advantages of this method as transparency of the actions of network users, decentralization, and also a reliable security system were taken into account.

So far, in Kazakhstan, a similar process of providing public services in the form of a pilot project has been implemented only with one of the commercial banks. At the same time, Government for Citizens is also negotiating with other second-tier banks to implement the service on their platforms.

"The use of Blockchain technology serves as a guarantee for the implementation of secure bilateral transactions without involvement of a third party and simplifies the issuance of loans secured by real estate by banks in terms of online processing of loans, reducing costs and shortening the timing of their issuance," the state corporation added.

11:35, 25 November 2020
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