The benefits of blockchain application for governments
Governments are tasked with facilitating transparency especially in achieving greater efficiencies governance, and distribution of resources among other things. And this is the reason for governments of many countries have articulated interest in the technology.
Blockchain applications for governments might be the missing link towards helping governments to become fully digitized. The world has been on the path of digitization as has been seen with many industries such as retail and entertainment among others. Governments have also been feeling pressure to also pursue the same route but it is easier said than done. One of the biggest hurdles that have stood in the way of digitization for many governments is the issue of security.
Bringing personal data of millions of people onto digital platforms presents a huge risk in the event that the system is hacked. However, blockchain has been advertised as unhackable due to its structure and this means that it could offer a viable solution that can help governments to finally go digital. The fact that blockchain is virtually unhackable makes it more appealing for developing digital systems for governments. However, this is just the tip of the proverbial iceberg compared to what blockchain based government services can achieve.
Governments, especially in developed countries, usually have a hard time trying to earn the trust of their citizens especially when it comes to evidence of service delivery and improving on already existing services. In developing countries, blockchain applications for governments would come in handy towards eliminating some major issues such as corruption while also ensuring more effective deployment and distribution of resources. The adoption of such technologies might also help to facilitate better utilization of resources.
Blockchain for government use cases
There are very key uses of blockchain in governments and here are some of the situations in which the technology can be applied to make things better.
1. Blockchain can be used to facilitate legal enforcement
2. Fixing the taxation problem
3. Blockchain technology can be used to boost the efficiency of welfare distribution
4. Governments can use blockchain to protect vital government infrastructure
5. Blockchain technology can be used to boost the efficiency of welfare distribution