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.
I think they will once they figured out that blockchain can be taken advantage for the purpose you mentioned, the NFT technology itself actually can be used for immutable registry or database for property ownership or so on.Do you think governments will use Blockchain way beyond financial apps? If not, why?
Your input will be greatly appreciated. Thank you very much.
the thing is, NFT technology is so clouded with many buzz and shady pump and dump scheme that majority of people outright ignore the underlying technology that actually can be used for awesome thing.
if you ever see the word NFT mentioned in reddit for example, their first impression of it would be a scam, or shady scheme, or even worse pump and dump scheme, because the latest NFT craze just give that impression, so the general perception about some of technology are still clouded with so many misinformation. until some of the RWA and DePin project could actually break that stigma, I don't think government will really use it for such important thing, stigma and sentiments matters too.