As Governments Across The Globe Discover Blockchain, Red Tape Hinders Progress
The ability to increase efficiency has made Blockchain technology appealing to governments. The potential to usurp current business processes with something more efficient, while also reducing costs, has captured the attention of governmental bodies across the world. However, bureaucracy remains a key factor in how soon this disruptive technology will become fully adopted by government institutions. Government-inspired Blockchain. Government-inspired Blockchain initiatives are taking shape all over the place. Estonia, Russia, the United States, Singapore, Sweden and South Korea all have....
Related News
The concept of digital identity is gaining rapid traction across the globe. Four of the world’s five most populous countries – China, India, Indonesia, and Brazil – are in various stages of implementing government digital identity schemes, as are many other governments around the globe. However, currently, there are different approaches in terms of the technology used to manage a digital identity system, with some worrying implications for citizens’ privacy. The main concern is the […]
Alpha Technology was working towards shipping their Viper units by the end of July, but due to technical issues, they had to go through a second-tape-out process, thus delaying the shipments. They waited until July 28th to tell customers about this little surprise, distancing themselves from their claim of being transparent. Their news even went so far as to "remind" all of their customers that they upgraded their devices from 25MH/s to 250MH/s back in May. Even though PayPal did what PayPal does best, and locked Alpha Technology's funds, Alpha Technology was still able to fund the second....
There’s seemingly a constant conversation, particularly with those involved in legacy financial institutions, about how cryptocurrency can be – to a certain degree – “de-risked.” Can government mining, or merely taxation structure, address this? While many traditional financial players that are not crypto-first, but are crypto-adjacent (take Visa as a prime example) are relying on the use of stablecoins like USDC as their main pillar of transactions, there are other conversations happening about how crypto risk can be managed. Government bodies are always looking to get a piece....
All types of organizations stand to gain new benefits from blockchain technology, but governments are uniquely positioned to not only gain such benefits for themselves, but to help establish blockchain infrastructure that benefits all business and consumer sectors. To assess the progress that government organizations are making in this area, the IBM Institute for Business Value released a report, “Building trust in government; Exploring the potential of blockchains.” With the support of its economist intelligence unit, the institute surveyed 200 government leaders in 16 countries on their....
As government services are one of the most obvious and immediate application areas for the blockchain, it's no surprise progressive governments are already working on initiatives. In the first half of 2016, cities, municipalities and governments have been vocal in their plans for the technology. Indeed, a quick overview of the projects in development shows how far the idea that blockchain could change government services has spread around the globe: Delaware. In Delaware, the state where a majority of new companies will likely incorporate, Governor Jack Markell announced two blockchain....