123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Technology,-Gadget-and-Science >> View Article

Governments That Are Already Using Blockchain Technology

Profile Picture
By Author: Jack Miler
Total Articles: 5
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The strong functionality of blockchain technology has caught the eyes of different governments all over the world. However, few said that “blockchain is good while cryptos are bad” and for that number of countries have either banned or introduced strict crypto regulation.
Many countries studying the potential of blockchain-based applications have started researching and implementing the solution for better utilization.

Today we are discussing governments who have already adopted blockchain technology for improved future. Healthcare, national identity management systems, voting, tax and internal audit, banking services are some of the crucial areas where blockchain technology can help.
According to Statista, global blockchain technology revenues will experience massive growth in the coming years, with the market expected to climb to over 23.3 billion U.S. dollars in size by 2023. The financial sector has been one of the quickest to invest in blockchain, with over 60 percent of the technology’s market value concentrated in this field.

Let’s check the list of governments using blockchain around the world:
Estonia
The government of the European nation of Estonia was among the first to adopt blockchain technology in 2008. After research, from 2012 they began to put blockchain technology in a number of government tasks.
Estonian government first uses it in the country’s registry database across several sectors, such as health, legislative, security, and the judiciary. They also created a national identity management system to reduce bureaucratic red-tape and improve the quality of service delivery to the citizen.
Dubai
Dubai government is working on a city-wide blockchain project to streamline identity verification to reduce registration time by digitizing & tracking citizen’s health records, contracts, and wills, among other assets.
Dubai government also started with a fully paperless transaction system which is hosted entirely on the blockchain; this will save both manpower and billions of money, offering error-free complete task.
United States
States like Illinois in the US have gladly accepted blockchain as a state weapon and recently launched a series of the proposed birth registry and identification system. The aim is the individualization and enhanced security identities. It is the result of the collaboration between Illinois state government and a big tech company.
On the national level, US government is trying to work in the area of national security. Besides this, they want to use blockchain in exchanging encrypted intelligence information without the threat of hacking.
Gibraltar
The government of Gibraltar started with blockchain in fintech. They launched financial services license for blockchain operation. It is one of the first to approve a blockchain Exchange. It is a subsidiary of the state’s exchange framework.
Well, these are just a few use cases of blockchain technology development from around the world. Blockchain technology is here to stay and it is almost ready for government, now the government has to use it for a smart future.
The emergence of blockchain accelerated different IT companies to come up with blockchain application development.

More About the Author

I am Jack Miler an iOS application developer working with Sphinx Solutions having a strong understanding of the iOS app development life cycle with 7 years of experience in the development industry.

Total Views: 71Word Count: 470See All articles From Author

Add Comment

Technology, Gadget and Science Articles

1. Top 4 Methods Of Data Collection
Author: Datafi apps

2. Siddhi Infosoft Featured Among The List Of The Top Usa Based Mobile App Development Companies
Author: Rushabh Patel

3. The Importance Of Ai In Enhancing Software And App Testing In The Long Run
Author: Neelima

4. Import Olm File To Pst Format Without A Care When You Select A Method Carefully
Author: Gladwev Email Converter

5. How To Choose The Right Vaping Device For Yourself
Author: Rashid Saeed

6. 4 Common Myths You Should Know About Mobile Phone Repair
Author: Charlie Wollstonecraft

7. Benefits Of Magento Development For Your Ecommerce Business
Author: Jonathan Paul

8. Target Drones Market Scope, Trends, Analysis And Forecast 2020 - 2025
Author: Sandeep Roy

9. How To Use A Copy Machine: Basic And Advanced Features
Author: Bob Christensen

10. Put Frsky Taranis Custom Sounds
Author: ada red

11. Samsung Introduces New Ai-powered Washing Machines
Author: elina john

12. Sonus Limited Edition Loudspeaker: All You Need To Know
Author: Jack thomson

13. Samsung 980 Pro: A Perfect Ssd For A Ryzen-powered Pc
Author: Jack thomson

14. Microchip Introduces High-reliability, Extended-temperature Ethernet Phy Transceiver For Aerospace A
Author: Puspanjali

15. The Cameras You Should Avoid Buying
Author: Jack thomson

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: