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.
There is definitely a space for Blockchain technologies in government sectors and even beyond that. First of all, let's define what Blockchain is. Blockchain is a decentralized, public ledger where transaction are recorded across many computers, that guarantees that the stored information won't be altered. There are government structures where the pros of blockchain can be very beneficial, for example medical supplies, election systems, selling/ownership of the item and 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.
By the way, it's still a new technology but there are some pilot countries that try to adopt it. I think that if blockchain technologies implementation will be successful in so called pilot countries, then major countries like the USA, Australia, Germany, France, Canada and others will implement it in many public sectors.