Expert Answers

newest most voted

That would be interesting and realistic, as it would create security for the documents especially if it is related to real estate as I believe has been proven. However without giving it much thought where I worry is the mining of the cryptocurrencies related to that project or authentication of nodes., what would the value be and would it worth it eventually holding such currencies or the attractiveness of the project. But then again it could involve a lot of transactions making it worth it (if related to real estate). On the whole, I still stick to it being a good idea and realistic but the project implementation has to be tight. Beginners viewpoint I guess. Hoping to hear more on this.

I don’t think there is anything inherent to blockchain that would prevent this. I believe there are many government projects looking into where they can capitalize on the tech. However there is also a lot of enterprise and institutional interest in things like the Libra consortium system and platforms like Hyperledger where they have much more control as opposed to public chains like BTC and ETH.

There are HUGE opportunities for blockchain in government, the issue is mainly that government decision makers often don’t have a lot of tech expertise in general, let alone having blockchain knowledge at their disposal to strategize and design solutions.

In fact, there are several Canadian governments that are already using the tech in different ways. GoC is using ethereum to publish research funding data through the NRC (https://nrc-cnrc.explorecatena.com/en), and the governments of BC and Ontario have been collaborating on a verifiable organizations network built on Hyperledger (https://vonx.io/).

Also, it’s hard to talk about tech and government without mentioning Estonia, they are probably the most advanced digital government that I’m aware of.

There are certainly more projects in government happening or in development. Would love to hear about more things happening.

Hi Ben,

Dubai government is already actively working with one of the tech firms there (Avanza Innovations) to deploy blockchain-based solutions for the government. One of their projects being with department of Finance in Dubai where their objective was to reduce delays in reconciliations and settlements (as per their team lead, the objective is in line with the vision for Smart Dubai, maximizing user’s happiness).

There’s nothing about blockchain as a technology that would prevent a government from becoming involved with it. In fact, there have been a number of government experiments in the space.

The Government of Canada has been experimenting with publishing funding data on the Ethereum blockchain (https://nrc-cnrc.explorecatena.com/en), and the governments of British Columbia and Ontario have worked together on the Verifiable Organizations Network on Hyperledger (https://vonx.io/). Estonia has developed what is likely one of the most advanced digital governments in the world (https://e-estonia.com), and some of their solutions utilize blockchain. There are likely many more experiments ongoing and projects under development.

Ben,
If anything, Blockchain will be a benefit to a government and its citizens. Projects like e-estonia and others mentioned in Kris Jones’s prior response are examples of a blockchain solution that provides information that is truthful and up to date. Additionally, and more importantly to many, is the level of transparency that an open ledger provides to both government and citizen. Blockchain is something that could prove very useful in preventing things like voter fraud and election tampering as well as providing faster access to some government services. The cost savings and improvements to government transparency are there for any government (local or national) that is willing to do the research and implementation.

Hungry for knowledge?
New guides and courses each week
Looking to invest?
Market data, analysis, and reports
Just curious?
A community of blockchain experts to help

Get started today and earn 4 bonus blocks

Already have an account? Sign In