Categories: CryptoNews

Bila Tserkova City Administration To Approve Blockchain-based eAuction 3.0 Platform

The eAuction platform, which is based on blockchain technology, continues to gain momentum in the Ukraine. A new city has announced they will make use of this blockchain solution in the coming months. Bila Tserkva, a city relatively close to Kiev, will approve the usage of eAuction 3.0 shortly. Municipal and state property will be leased through this new platform, similar to what has happened in other Ukrainian cities.

Blockchain Holds Merit For Leasing Properties

Several Ukrainian cities have embraced the eAuction 3.0 platform over the past year. That is not entirely surprising either, considering the potential this technology holds. For now, the primary focus is on leasing municipal and state properties, a trend that will continue once Bila Tserkva approves the usage of this new platform.

It is not the first time this city explores the boundaries of what this eAuction 3.0 platform can do. A test auction for municipal property was held a few weeks ago and saw great appreciation from all parties involved. This blockchain-based auction platform was also presented to the city administration and the public before the auction took place.

To most people, it will feel unnatural to make bids on the property using blockchain tender. However, the team behind eAuction 3.0 is always on-hand to explain the inner workings of this project. Once everyone got a basic idea of how things worked, their auction kicked off. All in all, the process took 40 minutes, and the end price was twice as high as the starting bid.

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Ever since that auction went through successfully, the city administration of Bila Tserkva has been working on a proposal to approve this project for future usage. As one would come to expect, this process takes a lot of time. However, it looks like a decision will be made shortly, which should approve future usage of eAuction 3.0

Blockchain technology can be used for many different purposes. Bitcoin and other financial services are just a few examples of what can be achieved through decentralised technology. It is not unlikely the eAuction 3.0 project will continue to make inroads in Ukraine, and hopefully, in other countries as well.

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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