We’ve already touched on what blockchain is and how its technology is being explored in all regions of business. But what about government? The blockchain’s value lies in its ability to allow data to be more transparent yet at the same time, more secure than ever. Data accessibility has become a priority for government at all levels and with recent hacks and data integrity in question, this should and I think, will, become top priority.
Blockchains vary in how they are implemented, how they are secured, who can access them, and how they interface with other data technologies. These are each critical design details with implications for local governments. Transparency has been a keyword in the media as of late when it comes to government, their procedures, decisions etc, and below are some real ways blockchain technology can assist governments around the world achieve this transparency while remaining secure.
- Transparent record keeping and public archives
- Fraud-free voting
- Distributed, tamper-free registries
- Smart contract administration
- Grant distribution and tracking
- Distributed decision-making
Blockchain technology is transforming our future, allowing us to trust more and create a “sharing economy”. Only time will tell if and when governments will accept this new technology and how it will be implemented to better decisions and developments of the world around us. Learn more about how blockchain can help enterprises, ecosystems and economies here.