How governments are using blockchain worldwide
Blockchain has unique benefits that no other technology can provide, attracting businesses, ordinary people, and governments worldwide. Even the public sector, being incredibly complex, confusing, and centralized, riddled with bureaucracy and control, sees the benefits of blockchain. Moreover, governments in many countries already use it and are launching multiple tools and applications based on it. So, in which areas of government use blockchain right now?
Most countries are now using electronic medical records. Doctors can access their patients’ data online; patients can also check their medical history without searching through endless documents. Blockchain surprisingly incorporates this area of digitalization. Previously doctors used paper files to write down medical records where they could cross out words and write something else. Now you cannot change one diagnosis to another electronically. Furthermore, actions save automatically and are never deleted from the network, even if they malfunction.
Blockchain keeps the medical records of chronically ill patients: including information about prescribed medication, reactions to certain drugs, and problems. Collecting medical data helps doctors decide on further treatments. In addition, it is incorporated into banking and insurance technology, giving patients access to services and insurance options they need, including payments. For example, in 2016, the BitHealth project accepted insurance payments in bitcoins and other coins in the United States. In addition, they work with a government system and promote their technology to the public. Likewise, the US government encourages medical insurance.
Blockchain technology is actively used within the PLCU ecosystem. This crypto coin has several services making life easier for its users. One of the most popular is the PlatinHero crowdfunding project, where you can donate funds to charity or support high-tech startups. In addition, the PLC Ultima team, an acronym for PLC, works on an international marketplace where cryptocurrency holders can buy goods and services, including essential goods.
Blockchain helps with records about property owners and their rights. For example, establishing how to divide property and sell your share legally, so new owners have no unforeseen legal problems resulting in a reduced transaction time. In addition, the risk of real estate fraud drops to zero, improving the attractiveness of a country and individual regions for investors and businesses. Startups that offer this technology already exist. For example, in 2016, Sweden tested the ChromaWay project, which combines an electronic real estate trail with information about the property, including its owners. The National Land Survey, a telephony service provider, and a consulting company also participated. As a result, a financial solution has been devised based on blockchain, enabling you to examine information about real estate and easily buy properties.
The Bitland government project has operated in Ghana since 2016, based on the Graphene service and blockchain. It is a serious project: they issue their own basic coins, which can be used to register land, resolve related issues, and conduct transactions.
Documents continuously passed through various government departments can be automatically captured and processed by blockchain-based applications. The rapid accumulation of information and analysis allows for faster data exchange, making voting for political candidates transparent and registering companies quick without a considerable amount of paperwork that otherwise would have to be signed by the representatives of different departments. Blockchain benefits governments by reducing costs and allowing staff to move from routine work to vital tasks.
Governments are slowly introducing blockchain into their departments. For example, in the UAE in 2016, a strategy was put in place for transferring entire state documents to a blockchain. In the USA, in 2017, a project was introduced to automate government organizations’ and businesses’ operational and legal activities. The project was developed by several firms specializing in technology. The startup became not only a lifesaver for politicians and entrepreneurs but also the country’s corporate shareholders. The system tracked the value of the company’s assets, its shares, bonds, and other investment associated with the issuer, and communication with the holders of these securities. As a result, the initiative was adopted by several government departments and companies needing a single big data operator.
Blockchain is not only used by governments in large countries to streamline workflow. At PLCU, anything related to documentation is tied to a blockchain in one way or another. The creator of PLC Ultima, Alex Reinhardt, has repeatedly said in his interviews that he wants to streamline information processing, its presentation to decision-makers, and likewise, for users and holders of cryptocurrency. This project has been incredibly successful: since 2016, the company has been testing numerous ideas for services that will work on blockchain and simplify document management and have found the perfect combination suitable for running a complex business with an emphasis on financial systems.