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.
The topic about the implementation of blockchain technology by various industries and governments around the world has been discussed in the forum since 2017.
The current year is 2024 and I haven't seen blockchain technology being successfully implemented in any industry around the world.
Obviously there's no need for blockchain technology for the purposes you are talking about(storing info about licenses, birth certificates).
I don't think that the CBDCs will use actual blockchain technology. Maybe the youtuber James Jani was right. Maybe blockchain technology is just a "glorified spreadsheet".
