Trending Technology Machine Learning, Artificial Intelligent, Block Chain, IoT, DevOps, Data Science

Recent Post

Search

Blockchain Applications in the Government

Blockchain Applications in Government

Record Management

National, state, and local governments are responsible for maintaining individuals' records such as birth and death dates, marital status, or property transfers. Yet managing this data can be difficult, and to this day some of these records only exist in paper form. And sometimes, citizens have to physically go to their local government offices to make changes, which is time-consuming, unnecessary, and frustrating. Blockchain technology could simplify this record keeping and make the data far more secure.

Identity Management

Proponents of blockchain tech for identity management claim that with enough information on the blockchain, people would only need to provide the bare minimum (date of birth, for example) to prove their identities.

Voting

Blockchain technology has the ability to make the voting process more easily accessible while improving security. Hackers would be no match to blockchain technology, because even if someone were to access the terminal, they wouldn't be able to affect other nodes. Each vote would be attributed to one ID, and with the ability to create a fake ID being impossible, government officials could tally votes more efficiently and effectively.

Taxes

Blockchain tech could make the cumbersome process of filing taxes, which is prone to human error, much more efficient with enough information stored on the blockchain.

Compliance/Regulatory Oversight

The majority of regulatory oversight stems from record keeping, but the consequences of not maintaining records is inarguably much worse. Thus, compliance is non-negotiable for companies. Blockchain can make record updates available to regulators and businesses in real time, in turn reducing time lags and allowing red flags and inconsistencies to be spotted sooner.

For more details about Crypto please visit BuyUcoin Buy, sell and trade cryptocurrency, The Most trusted & Advanced Digital Currency Exchange, Create your Cryptocurrency Portfolio at BuyUcoin.


No comments:

Post a Comment