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Ayia Napa Municipality aims to become a local pioneer in blockchain technology Ayia Napa Municipality aims to become a local pioneer in blockchain technology

Ayia Napa Municipality Enters UNIC Blockchain Agreement

Aiming to become the first Cypriot municipality to implement blockchain currency exchanges, Ayia Napa Municipality entered into a relevant agreement with University of Nicosia (UNIC).

Originally devised for digital currency, Bitcoin, blockchain allows digital information to be distributed but not copied, creating an incorruptible digital ledger of economic transactions. These can, in turn, be programmed to record not just financial transactions but virtually anything of value.

Having established Blockchain Research Centre, an entity within UNIC‘s Research Foundation, UNIC also launched the world’s first Master’s Degree in Digital Currency.

The agreement between the municipality and UNIC also covered the use of artificial intelligence and smart city technologies and was signed by Yiannis Karousos, Mayor, Ayia Napa, and Antonis Polemitis, CEO, UNIC.

Karousos said, “We, alongside the university, will analyse how these technologies can be used to improve both our municipality’s productivity and the service provided to our residents and visitors.”

Polemitis said UNIC would use all the means at its disposal to support Ayia Napa Municipality in the use of technologies benefitting residents, visitors and the environment.