Ukraine created a blockchain based on domestic cryptography

by in Blockchain News

Ukraine blockchain

Ukraine has developed a software package for the basic blockchain system using domestic cryptography with high post-quantum strength. This is said in the press service of the Information Protection department.

The technology can be used to conduct various polls, create a national cryptocurrency, use smart contracts and provide fault-tolerant electronic document management.

Now, on the basis of the blockchain, a prototype electronic voting system has been deployed.

Related: Ukraine: propose to legalize mining and create crypto valley

Specialists conducted research on security issues and developing recommendations regarding the use of blockchain. The results are included in the roadmap, which describes the components of decentralized systems recommended for each of the practical applications of the technology.

The State Special Communications Service has also prepared a draft technical regulation of cryptographic information protection facilities. Now the project is being prepared for approval by the Cabinet of Ministers of Ukraine.

Recall, that in December Officials in Ukraine have confirmed a new statute that approves activities with crypto as the country makes attempts to matching a stringent agreement to global anti-money laundering criteria.