Blockchain is the game changer of this era. The ultimate gift to the digital world has yet to reach a wide scale of acceptance. Through its innovative aspects of it, Blockchain has the ability to survive the initial stages of security and proximity of transactions.
We are in the era of digitalization, and Blockchain has the ability to gift us ultra-advanced features. For instance, Blockchain has given us the opportunity to experience digital currency, Cryptocurrency.
Since 2009, the innovation of Bitcoin has given us the opportunity to explore the digital trading world with enormous profitability and the significance of anonymity. Bitcoin is also very flexible in that we can convert it into any currency and transact across the world without the involvement of a third party.
If you want to try trading with this exciting Cryptocurrency, you will be able to do that in the bitcoin era. However, our concern is to focus on the Blockchain perspectives that the government can use so far so good.
Though Blockchain has the ability to survive in any digital case, there are a few concerns that the government is worried about. Blockchain has a pseudonymous nature which helps to keep the real identity of a user secret. On the other hand, the government needs to verify a few identities before transactions.
In addition, the government could also implement Blockchain with digital IDs to ensure a permission Blockchain process. In this case, the process will be too complex for Blockchain to handle, and also, the security issues will occur.
For instance, if they adjust social security with digital IDs, it will no longer be pseudonymous. In some cases, the government will need full anonymity, like with voters’ ballots.
Despite the obstacles we discussed earlier, there are some use cases where Blockchain can help the government. Blockchain alone cannot handle the crimes, but the below cases can be handled better by Blockchain.
Proof of ownership and land transactions are hectic for the government to handle because there are so many paper works and administrative works to look for. The ledger of Blockchain is very high in such cases.
For instance, the Georgian government decided to use a Blockchain tool to initiate all their land registries. In that case, the proof of ownership stays secured with the Blockchain process.
The particular land registry tool can track the ownership and transactions of any land. What do you think about this impressive technology! You can simply use the tool to understand who owns the land and what transactions are done with the land.
The social benefits of the government can be misused or infiltrated by cyber attackers. Blockchain can secure the social benefits of the unemployed with its protection and record management process.
For instance, the Netherlands is using the Blockchain-based infrastructure to ensure a safe pension program for their employees. It also helps them to reduce the cost of management.
Traditional contracts are costly and hectic for both the government parties and the citizens. There are so many procedures and steps to follow before you transfer land to others.
Here comes Blockchain to ensure the cost-effective and secured, and easy process of contracts. There is a chance for you to access the contracts, and it will be secure as well.
For instance, Swedish land registry offices are using the Blockchain process for land title transfers.
This is a long-time concern for the governments, and they are looking for an effective centralized cloud-based process to handle the area of document validation. Blockchain is an effective process to handle this kind of validation effectively.
With Blockchain, it is possible to store the hash values of the citizen and ensure their signature and government timestamps.
For instance, MIT has considered Blockcerts that can hold apps that can validate documents and academic certificates. The government of Malta encounters such a Blockchain process in their education and employment process.
After reading this article, what do you think Blockchain has to offer the government?
Well, it is clear that Blockchain is not efficient enough to handle all kinds of government issues, such as voting; but it is efficient in a few areas to handle processes better. Blockchain has the ability to deliver a concise, time-efficient, and cool process to handle few government administrative works surely.