“With the help of Blockchain technology, vast amounts of data can be managed with the added benefits of security, efficiency, and speed."
SAN FRANCISCO, U.S., September 20, 2018 /EINPresswire.com/ — The term blockchain has become quite a buzzword today and blockchain as a technology can no longer be ignored. With a lot of hype in the air about blockchain technology at the moment, Mr. Rajendra Nimje, Director General, Centre for Good Governance, shares his insights on the scope of blockchain technology in transforming governance and its practices.
Mr. Nimje opines that the underlying ledger for Bitcoin cryptocurrency augments the credibility, accuracy, and efficiency of the practices in governance while reducing the risk of frauds. “With the help of Blockchain technology, vast amounts of data can be managed with the added benefits of security, efficiency, and speed. This capability is of immense value to public sector organizations, and governments across the globe are actively exploring and experimenting with its uses in government,” he says.
Speaking about the widespread adoption of the disruption technology across the globe, Mr. Nimje believes that the distributed ledger system could solve some of the world’s biggest problems. “Public agencies in more than a dozen countries including Brazil, the United Kingdom, Canada, India, and China are running pilots, tests, and trials to understand the technology’s utility in government service provision and are developing individual blockchain-based applications for internal use. These applications are often unique to the particular circumstances of a country, state, and municipality, and broadly vary in use cases.”
Talking about the countries that have embraced this technology to governance, he says that “In the United Arab Emirates, the government is exploring use cases pertaining to business registration, trade, and central bank operations. In Estonia, the government is piloting blockchain-based solutions for voting, identity management, and healthcare. In the United States, the state of Delaware, where many companies incorporate, is experimenting with a blockchain-based corporate registry system in alongside exploring share issuance. A legislation was passed in July 2017 to approve the trade and maintenance of corporate stock on a blockchain. Federal agencies like the General Services Administration, the Health and Human Services Department, the Department of Homeland Security have announced blockchain programs. Other states like New York, Illinois, and Texas are also experimenting with blockchain applications.”
“Governments have to deal with the storage and management of sensitive information pertaining to a great number of people. It is clear that blockchain will be of great use to a government in the secure management of such data. Center for Good Governance is thereby exploring different avenues to incorporate blockchain and related technologies customized to its specific context and purpose,” he further added.
email us here
Source: EIN Presswire