Yiannis Karoussos, Mayor of Ayia Napa announced that the municipality will be the first one in Cyprus to use blockchain technology. Ayia Napa Municipality collaborated with the University of Nicosia to venture into the blockchain era.
Mayor Karoussos described the blockchain initiative as “a very important development for the town” and congratulated the university for the important role they played in implementing the technology. He added also:
“I’m proud that Ayia Napa is leading the way again in the technology sector”.
The aim of the project is to modernise the services offered by the municipality. The City Council of Ayia Napa in partnership with the University of Nicosia has taken actions to implement blockchain technology for matters regarding the running of the municipality. For example, blockchain technology will be used to electronically verify marriage certificates and issue official digital certificates to residents of Ayia Napa.
Blockchain technology represents a list of records called blocks, that are linked using cryptography. One of the most useful advantages of the blockchain technology is the fact that it is resistant to data modification, making the system more open, reliable and transparent.
The blocks help also to speed up transactions. This technology allows for verification without having to be dependent on third-parties. No middle-man is required to manage them and two parties can quickly and efficiently operate between themselves.
The blockchain technology provides more trustful, open and low-cost solution to standard electronic data storage, like cloud storage. The data cannot be altered or deleted.
The expectations of the Municipality of Ayia Napa are that the blockchain will have a positive impact on the lives of the residents and visitors of the town.
This is yet another demonstration of innovative thinking on the part of the Cypriot municipality. Some months ago, Ayia Napa became the first municipality in Cyprus with…