Blockchain Security is here to combat cybersecurity on the internet. Blockchain technology increases trust for business across borders. Companies can now perform transactions in a fast and secure manner. Turner has predicted that blockchain can be used as a standard reference point to merge different levels of government in a new register of data.
Right now, blockchain can be used to scale government services. The technology allows the government to create records of data with a significant level of security, speed, and transparency. The blockchain accessible ledger is useful for birth certificates, business license, and land registry. The technology eliminates dependence on notaries, lawyers, and government officials.
Many governments are experimenting with the blockchain technology. For instance, the Estonian government is at the top of the list for enabling citizens to vote, perform banking transactions, complete business registration, and pay tax on the blockchain technology. The technology also allows civil servants review documents, encrypt them, and approve permits.
The Estonian government has seen great rewards in the blockchain technology after rolling out patient’s records and public notaries.
The Sweden government allows real estate dealers to sell properties on the technology.
Blockchain tracks real estate transactions in all stages to guarantee the transparency and authenticity of the transaction process.
The U.K department for work and pensions uses blockchain technology for welfare payments. Citizens can spend their public payment benefits directly from their phone. Each citizen transaction is recorded on a distributed ledger. The aim is to create an efficient welfare system to manage public finance. The government also plans to enable citizens to receive and spend government funds from the blockchain technology.
Canada government is interested in reducing financial risk, creating a diversified job sector, and boosting productivity through the blockchain technology. The Canadian government took this further by ushering the “Internet of value (or the Internet of things).” The internet of value (1OT) is a distributed platform that is meant to reshape the global business environment.
Laurent LaMotte former prime minister of the Voce GROUP spoke at the IOC session. He said that “the combination of IOT and blockchain has the power to boost socio-economic development.”
The blockchain technology has a significant impact in the European Parliament for digital content, E-voting, patents, supply chain, Smart contract, and blockchain states.
The European Commission is also launching a new blockchain project that will focus on the non-financial application of the blockchain technology. The EC began a project named “decode” to make people interested in their data. Nesta, an innovation agency said that they aimed to give people more control over their data. He further declared that a handful of big businesses that don’t serve communities and individuals benefit from online data and prevent other organizations from using the data for public benefit
Also, African countries are not left in exploring the blockchain technology. Kenya and Ghana use blockchain to manage land registration. Their government has been able to provide a trustworthy and a clear record of land ownership. The technology eliminates corruption and other problems with registration of land ownership.
Where blockchain could be adopted in government
The local and federal government are awash in data. The electronic database has erased the cost of filing cabinets and using file folders. It also made data more transparent and accessible. Exchange of information takes places in different ways such as fines, certifications, approvals, disbursement, sales, fees, and procurement. Blockchain has the potential to perform all these transactions through a decentralized exchange and digitalization of asset.
Government at the federal, state and local level can use blockchain to allocate funds to the road grader. In fact, the value provided by blockchain exceeds the cost of adoption regarding security and efficiency
Here is how blockchain can scale government services.
Identity management: blockchain is excellent for assets identification. Whether cars or cryptocurrencies, each asset must be rendered digitally. There are many challenges of unregistered birth in about one-fifth of the world’s population, and blockchain can solve this issue. Blockchain can provide a self-sovereign and secure identity that could enable transactions across a wide range of asset. Also, blockchain offers precise individual control over identity elements.
Land registration: Tilting and deeds protect homebuyers in developing countries. Existing registry and license process are fragmented. Paper-based registration is inefficient, costly and vulnerable to tampering. Blockchain can create a unique and non-corruptible record and also validate changes to the files. Blockchain can also reduce the immediacies involved in land registration, improve the registration process, and create more trust among transacting parties.
Voting: Blockchain enables citizens to cast their vote the same way they initiate other secure transaction. It even allows candidates to verify election results. In the future, we will see an anonymous vote casting process and individualized ballot process that will enable each voter to cast their vote and confirm it. Blockchain also reduces the high cost related to ballot printing and electronic voting machines. Blockchain eliminates voting delays and cybercrime that comprise voting result.
Blockchain creates more security, and more improve participation in elections while meeting citizen’s needs.
Over time, the government can create algorithms and rules that allow individuals to automatically share data with third parties, once the third party fulfill the rules of the smart contract. Smart contracts help to eliminate human resources. In the long run, blockchain can allow organizations and individuals to gain control over the information they provide to the government. Therefore no one can access citizen’s sensitive information without his or her proper consent. However, the government must implement smaller scale networks before the public can interact with a government blockchain network. The government would implement smaller scale networks to test the technology. Blockchain provides vast potentials for storing and collecting big public data.