Post
Topic
Board Economics
Re: Will governments use Blockchain way beyond financial apps?
by
Cryptomultiplier
on 21/09/2024, 20:46:23 UTC
For some time, governments have been talking about launching digital currencies of their own in collaboration with central banks. Financial apps have been the primary use case of Blockchains. I mean, if governments decide to use Blockchain tech as the backbone of CBDCs. Besides finance, governments can use Blockchain as some sort of immutable registry or database for marriage licenses, driver's licenses, certificates of birth, etc. So far, countries like Russia, the US, and China are only interested in the monetary aspect of Blockchains (finance). But things could change in the future, right?

Do you think governments will use Blockchain way beyond financial apps? If not, why?

Your input will be greatly appreciated. Thank you very much. Smiley
I doubt Blockchain is restricted to only financial applications. It has a variety of applications these days that can range from media to technology to Internet to database and a lot more that needs organisation and a transparent array of information.
Besides the Blockchain is also the hedera hatchgraph that almost resembles the Blockchain in application and function, but it isn't as popular and used as the Blockchain network.