Re: Will governments use Blockchain way beyond financial apps?
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.
Do you think governments will use Blockchain way beyond financial apps? If not, why?
Your input will be greatly appreciated. Thank you very much.
There was one video Trump was saying when he get to the office of the president, he was going to delete CBDC and I guess man doesn't want anything that compete with dollar but how he want Bitcoin for the US people is confusing but I think that's another discussion on another thread. The government will not create any serious blockchain payment, even if they do it will be hidden from the public but even if they successfully do one, only few will use it like the failed CBDC.
The government has no business to create their blockchain, there was many hype back then that China and US are developing a particular coin, don't know how it was then but it should be a lie and the government will spend a lot of money and now imagine one leaving office with looting money recorded on the blockchain network, when the next government comes, it will be soft catch to arrest anyone involved and since it's not what government want, it will be rejected for used.