Bitfury: Latvia could be successful in implementing blockchain in government

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The blockchain startup Bitfury, founded by locals from Riga, is popularizing the use of blockchain in government. CTO Aleksejs Petrovs believes it is also true for Latvia.

The company is already co-operation with the Gerogian and Ukranian goernment in the field of electronic governance. They firmly believe that blockchain solutions can significantly improve state governing:

"Blockchain suits more instances in state institutions than only document circulation. It is a very handy solution, but most importantly - a more effective and affordable system for a wide array of registers and election platforms. The use of this instrument ensures advantages in competition." states Petrov.

As a result, Petrov occasionally discusses these topics with Latvian politicians and beurocrats. For example, with the Latvian startup Association "", as well as with the Bank of Latvia, the Ministry of Finance, and the Court Administration.

"Latvia can certainly be competitive and successful in implementing blockchain in public administration. We have all the proconditions necessary - good IT specialists, and understanding of technology, resources, location, a position as a financial center - we can certainly have the upper hand over our neighbours in this regard."

He also adds that discussions with Estonian state representatives develop much quicker, because Estonia has long ago implemented similar technologies within the ID register. This currently functions very successfully and creates the opportunity to become a resident of Estonia remotely.


"I know the previous president of Estonia - Toomas Hendrik Ilves. Now it's easier than ever to chat with him, because he lives in Riga. He supports our ideas, and has even joined BitFury and spoke at our event in Davos that was dedicated to blockchain." says A. Petrov.