Blockchain technology is used in government auction platforms, Ukraine's anti-corruption route is unique

Last Thursday, the Blockchain Incredible Party (BIP001) was held in Odessa, Ukraine. Oleksandr Danilyuk, the Ukrainian Minister of Finance, was one of the speakers. He said in his speech that Ukraine strives to be at the forefront of exploring blockchain technology and try to use it in public utility management to improve government efficiency and transparency.

Danilyuk also mentioned that the Ministry of Finance plans to use IT company Distributed Labs’ eAuction platform, a transparent auction management platform based on blockchain technology, to sell government property and combat the rampant corruption in the current system.

We hope that Ukraine can become the first country in the world to use blockchain technology to sell state assets. Blockchain technology can ensure that the auction process is open and transparent, so that both buyers and sellers can get the most benefits. This system can also prevent corruption.

In addition to the tamper-proof nature of distributed ledger technology, Danilyuk believes that the main advantage of a blockchain system is that it removes administrative intervention from the bidding process.

Danilyuk said that the world's first online auction platform using blockchain technology can be transferred to the state-run Personal Deposit Guarantee Fund, which currently manages about $18.1 billion. $18.1 billion is equivalent to two-thirds of Ukraine's fiscal budget. Danilyuk said: This new online auction platform is completely open and transparent. Blockchain technology can reduce corruption in the government's asset sales process and save taxpayers billions of taxes. This is our ultimate goal.

The Ministry of Finance plans to finance the construction of the blockchain auction platform by cutting the maintenance fees of the old auction system. Danilyuk said: The construction and maintenance of this new system does not require the opening of additional financial sources.

In addition, the eAuction platform Auction 3.0 can be easily integrated into the existing auction system and can also be connected to the government and banking systems. Danilyuk mentioned that all major Ukrainian banks have expressed support for the platform.

Dr. Pavel Kravchenko, a developer at Distributed Lab, said in a recent interview that Ukraine’s development is in urgent need of software assistance.

It is well known that the Ukrainian government is not efficient. This project can bring some changes. Many cross-border investors have urged the Ukrainian government to fight corruption. This time, the government finally got the upper hand, and this new project can fully demonstrate Ukraine's progress and efforts in fighting corruption.

Kravachenko said that the Ukrainian business community has long known about this project and expressed great expectations. In Kiev (the capital of Ukraine), advertisements for this blockchain platform are everywhere, saying "The world's first blockchain auction platform - a good medicine to fight corruption."

Other speakers at the BIP001 conference included Timur Khromaev, Minister of Defense of Ukraine and representative of the Stock Market Committee, who presented the use of blockchain technology in Ukraine. Roman Sulzhik, Chairman of the Supervisory Chamber of the State Depository of Ukraine, spoke about the various opportunities that blockchain brings to the country.

Lasha Antadze is the founder of the eAuction project. His foundation began developing Auction 3.0 as early as last year's BIP001 conference. The testing phase of Auction 3.0 began in February this year and is currently under the full responsibility of the Ministry of Finance. The official release date is to be determined.

Ukraine is very receptive to Bitcoin and Internet technology. The country is currently working to legalize Bitcoin, hoping that it can officially become a currency. Although Ukraine's government departments are seriously corrupt and have been plagued by various problems, it is the easiest country in the world to buy Bitcoin. There are more than 10,000 public newsstands in the country where Bitcoin can be purchased with cash.