The GovernmentforCitizens State Corporation, togetherwithpartnerbanks, has launched a newservice:registration of collateral for realestate of legalentitiesusingBlockchaintechnology. The launch of the serviceis a continuation of projectswithin the framework of long-termcooperationbetween the State Corporationandsecond-tierbanks(STBs).

Combined with the capabilities of Blockchain technology in the banking sector, such as simplifying the issuance of loans secured by real estate of legal entities through online registration, a multiple reduction in costs and transaction registration time will be achieved. Thus, the deadline for registering a deposit will be reduced from 3 days to 1 hour by eliminating the collection of documents and eliminating physical contact between the recipient and the service provider.

 Ingeneral, thearsenal of cooperation between the State Corporationand the STB includes suchservicesasregistrationofencumbrancesin the form of collateralforindividualsanditstermination, the conclusion of a lease agreement under the stateprogramforsociallyvulnerablesegments of the populationand a contract for the saleandtransfer of real estate.

In2024, usingBlockchain, the State Corporationand the STBlaunchedservicesforregisteringassignmentofclaimsunder a loanagreement,changingencumbrances as aresult of changes in the terms of the agreement, and registering a pledgeagreement for non-residentialpremises.

Todate, more than360,000applications have already been reviewed using Blockchaintechnology. The volume of registrations of encumbranceson real estatecarried out usingBlockchaintechnologyincreasedin2024 by almost1.5timescomparedto the sameperiod in 2023,amounting to 131.7thousandtransactionsagainst87.8thousand, respectively.

The cities of republican significance Astana, Almaty and Shymkent, from the regions of Aktobe, Turkestan, Karaganda and Almaty, showed the highest activity in using the new technology. The new service is aimed at expanding the range of services using Blockchain technology and transferring the entire volume of contracts from banks to electronic registration.

Source : https://www.gov.kz/memleket/entities/akimat-munayli/press/news/details/1042876?lang=kk