articles | 25 November 2019

Ayia Napa leading the way in blockchain technology

Ayia Napa will be the first municipality in Cyprus to use blockchain technology, the town’s mayor said recently.

The municipality partnered with the University of Nicosia to venture into the blockchain era.

Mayor Yiannis Karoussos described the blockchain initiative as “a very important development for the town” and praised the university for the important role they played in implementing the technology.

“I’m proud that Ayia Napa is leading the way again in the technology sector,” he said.

“In order to modernise our services, the Ayia Napa city council, in cooperation with the University of Nicosia has taken steps to implement blockchain technology for matters regarding the running of the municipality,” said a statement from the municipality.

The technology will be used to electronically verify marriage certificates and issue official digital certificates to residents.

Blockchain technology is essentially a list of records called blocks, that are linked using cryptography.

One of the main advantages of these blocks, and in general of blockchain technology, is the fact that they are resistant to data modification, making the system more open, transparent and reliable.

It also helps speed up transactions, since no middle-man is required to conduct them and two parties can efficiently and quickly operate between themselves.

Advocates for blockchain claim that it provides a more trustful, open and cheaper solution to standard electronic data storage, like cloud storage.

“Blockchain will have a positive impact on the lives of Ayia Napa’s residents and its visitors, by following in the footsteps of other countries and cities around the world,” the mayor said.

Source: Cyprus Mail

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