Blockchain has been recognized as an emerging technology that has the capability to transform our daily lives.
Blockchain has been recognized as an emerging technology that has the capability to transform our daily lives. Right from its beginning from Bitcoin, it has found recognization from states and even nations across the world in improving various certain public services. The decentralized nature of blockchain makes it extremely secure with vast amounts of developments cross the various sectors that have proven it as a successful technology. Blockchain aided with smart contracts has shown how inefficient third-party intermediaries can be eliminated and this has attracted the attention of government agencies to streamline various bureaucratic works.
Here in this article, we will be discussing how governing authorities around the world have adopted blockchain for their governance projects in various ways.
The United Nations have launched its World Food Program and an Ethereum-based blockchain project was created by the name of Building Blocks to deliver the aid. The project has successfully transferred cryptocurrency-based food vouchers to refugees in Pakistan, which can be encashed in lieu of food. Another $325 million were transferred to Bangladesh and Jordan, which totaled roughly one million refugees.
There have been talks by the US General Services Administration to adopt a blockchain-like ledger system that would be used for government works. The US Federal Blockchain Forum has already stated in 2017 that it is looking to utilize the smart contract for several uses like IT purposes, trademark, and patent registrations.
Another worth noting project is about Dubai city, where officials along with blockchain consultant have created a system named Court of Blockchain, under it the judicial system will function over the blockchain. The project intends to improve the legal systems in the city through the use of smart contracts and this will lead to an efficient, secure, and transparent portal.
There have been of using blockchain in healthcare to secure a number of things right from records of patients to the management of health records, but now government healthcare agencies have identified blockchain to streamline their process. Coral Health is a prime example of how a government back project is utilizing blockchain-based ledgers to connect various stakeholders in healthcare sectors together. Coral Health has attempted to accelerate the process of retrieving patient information and various administrative processes so that a safe and timely treatment can be offered to patients.
The management of important records regarding tax collection, social security information, and real estate contracts are ought to be maintained securely. Illinois state of the US has been looking forward to adopting a blockchain-based ledger to maintain certain crucial data of birth and death certificates, passports, voting, and social security numbers. According to state officials, the blockchain is a way safer and more efficient option to store such information under state funding initiatives.
Another blockchain-based public and the private ledger-keeping project is about Delaware which is home to over 60% of fortune 500 companies. The Delaware Blockchain Initiative aims to archive various public documents comprising historical records and protect the financial information of enterprises and their shareholders.
Blockchain has been viewed as a technology having enormous potential for safeguarding the integrity of data due to its decentralized nature. Governments across the world have acknowledged the potential of blockchain in the areas of smart contracts, shared economy, cryptocurrency, and data management as quoted by a senior blockchain developer at Rejolut.
Many nations across the globe are adopting blockchain as it helps them in streamlining their welfare schemes and running public services more smoothly by having real-time transparency.
Can’t donate? Please share. Even a quick share on Facebook can help.
The average share raises $97.