NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Ukraine to Host World’s First Blockchain-based Auction

newsbtc
newsbtc
1 year ago
2 mins read
Blockchain-based Auction Ukraine

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Blockchain technology can be used in a wide variety of ways. Over in Ukraine, they are preparing for the world’s first blockchain-based auction. Decentralized online auctions are an interesting opportunity to explore – that much is certain.

Most people know blockchain technology as the mechanism powering the Bitcoin protocol. This innovative technology has attracted a lot of attention from the financial world. Various banks and other institutions are looking at ways to incorporate this technology into their own offerings.

Blockchain-based Auction On July 7, 2016

But the blockchain can be used to achieve a lot more than just sending and receiving money. A group of Ukrainian developers is focusing their attention on creating a decentralized auction platform. This decision was made to boost Fintech awareness throughout the country in the coming years.

Distributed Labs is the IT company behind this blockchain-based auction idea. They have voluntarily written the entire core protocol for this blockchain concept. Microsoft Azure services play an integral role in the process as well, due to their cloud-based data storage solution. Moreover, the developers have thoroughly tested this blockchain-based auction concept on the Azure servers.

It is interesting to note this idea has the full support of the Ukrainian government. An agreement for this blockchain-based auction platform was reached in March of 2016. The primary objective of this concept is to attract investors and users from all regions in Ukraine. Moreover, there is a plan on the table to allow for the sale of state-issued licenses, although it remains to be seen how this would work exactly.

Other auctionable items include real estate and state property. Due to the decentralized nature of this blockchain-based auction system, it will be impossible for someone to take control of the system. Plus, the added transparency brought to the table is of great importance as well. No more auctions behind closed doors, as everything will be publicly available for everyone to see.

The first blockchain-based auction on this new platform will be conducted on July 7, 2016. Tickets for one of the country’s major IT conference will be sold. All of the proceedings will be used to further developing this platform. Various improvements will be made in the coming months.

Source: Finclub

Header image courtesy of Shutterstock

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Over Bitcoin? Matt Hougan Says Institutions Sometimes Start With ETH

Bitwise CIO Matt Hougan has stated that a growing number of professional investors are skipping Bitcoin and turning directly to...

Godspower Owie 4 hours ago
Bitcoin Septembrie

Perspectivele pieței cripto în septembrie 2025

Bitcoin rămâne în centrul atenției pieței cripto, oscilând între episoade de instabilitate și așteptările unei noi etape de creștere. În...

antonio 4 hours ago
dogecoin-resistance-ema-hashrate-record

Dogecoin : test de la résistance EMA à 0,22 $ et un hashrate en plein record

En août 2025, Dogecoin retrouve de l’intensité. Celle qui lui manquait ces derniers temps. Le token se stabilise autour de...

guillaumev 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

gouvernement-americain-publie-donnees-pib-blockchain-bitcoin

Le gouvernement américain publie ses données de PIB sur la blockchain Bitcoin

guillaumev 1 hour ago
Shiba Inu

Scam Tokens Prompt Shiba Inu Team To Issue Emergency Alert – Details

Christian Encila 2 hours ago
Dogecoin

Dogecoin Price Risks Crash Below $0.1, But Can Bulls Facilitate This 800% Rally To $1.82 First?

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • Arthur Hayes 3 altcoint fedez fel 100-szorosra 2028-ra

    Arthur Hayes 3 altcoint fedez fel 100-szorosra 2028-ra

    1 hour ago
  • Następny Meme Coin 100x w przedsprzedaży? PEPENODE może przyćmić Pepe w 2025 roku

    Następny Meme Coin 100x w przedsprzedaży? PEPENODE może...

    2 hours ago
  • Arthur Hayes odhaluje 3 altcoiny na 100× do roku 2028

    2 hours ago
  • Предварителна продажба на следващия 100× мемкойн? PEPENODE може да засенчи Pepe през 2025 г.

    Предварителна продажба на...

    2 hours ago
  • Další Meme Coin 100x v předprodeji? PEPENODE může...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.