Blockchain in Government and the Public Sector
What are the Benefits of Blockchain in Government and the Public Sector? A blockchain-based digital government can protect data, streamline processes, and reduce fraud, waste, and abuse while simultaneously increasing trust and accountability. On a blockchain-based government model, individuals, businesses, and governments share resources over a distributed ledger secured using cryptography. This structure eliminates a single point […]

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Hussein Hallak

Blockchain in Government and the Public Sector

What are the Benefits of Blockchain in Government and the Public Sector?

blockchain-based digital government can protect data, streamline processes, and reduce fraud, waste, and abuse while simultaneously increasing trust and accountability. On a blockchain-based government model, individuals, businesses, and governments share resources over a distributed ledger secured using cryptography. This structure eliminates a single point of failure and inherently protects sensitive citizen and government data.

A blockchain-based government has the potential to solve legacy pain points and enable the following advantages:

  • Secure storage of government, citizen, and business data
  • Reduction of labor-intensive processes 
  • Reduction of excessive costs associated with managing accountability
  • Reduced potential for corruption and abuse
  • Increased trust in government and online civil systems

The distributed ledger format can be leveraged to support an array of government and public sector applications, including digital currency/payments, land registration, identity management, supply chain traceability, health care, corporate registration, taxation, voting (elections and proxy), and legal entities management.

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