Home / Economy / Georgia to Place Customs Documents into Blockchain System

Georgia to Place Customs Documents into Blockchain System

Georgia plans to launch the program for registration of customs documents into the blockchain system, Minister of Finance of Georgia Ivane Machavriani noted on January 29. This project will be the second case, when the Georgian government employs Blockchain system. namely, the country will upload certificates of indicators of origin into the Blockchain system.

Today, keeping the customs documentation in Georgia and other coutnries is related to much bureaucracy and relocation of these documents to the Blockchain system will enable the countries to considerably save resources, Ivane Machavariani noted. 

“Certificate of indication of origins is an only document that enables entrepreneurs to confirm authenticity of their products and enjoy the benefits of the free trade. There is one traditional problem – forgery of certificates, reliability. TO deal with this problem, customs offices of all countries cooperate worldwide and exchange numerous information items, papers, documents, signatures, seals, copies of seals with the aim to identify authenticity of the due documents.

We know that this is the most reliable system for database storage. We believe that our key partners will engage in this process. We will prepare and introduce the application and hand over it to our neighboring and partner customs offices, where they will be able to verify the certificates of indications of origin. We hope they will also introduce this technology and we will be able to analogically confirm their documents”, the Minister of Finance of Georgia noted.