Great news for blockchain technology. The Illinois government task force has decided to announce how it might apply blockchain technology for different inter-government operations. According to a report released on January the 31st, the state could use blockchain to manage resident identifications, tokenize assets and reduce entitlement fraud.
Illinois Government Might Use Blockchain Technologies
At UseTheBitcoin we have written several times about how governments are using Blockchain technology in different aspects. Blockchain has different use cases and could make governments more efficient in their daily tasks.
The report reads as follows:
“This Report is the first official government report in Illinois to be permanently certified in a public blockchain, a small gesture that we believe will demonstrate our desire to see government begin to use this technology. Though the mathematics behind the unique digital fingerprint assigned to this Report may be difficult to understand, it is clear that distributed ledgers can begin a transition to a smarter, cheaper and safer way to administer government.”
The report explains that residents could have access to a blockchain platform where they would be able to store their ID information, tax records, voting histories and more. Besides that, having the information in the blockchain has several advantages for the citizens. They would be able to share the information with different government agencies, public services, tax purposes involving less bureaucratic procedures.
Furthermore, the technology could be able to digitalize assets like social benefits, tax credits, municipal bonds and more. The government will be more transparent due to the fact that tokens will run in Ethereum’s blockchain. Efficiency will also be improved with this decision, reducing manual paperwork and increasing citizens trust in the government and processes.
The task force has also created a database that tracks worldwide blockchain initiatives in different governments. At the moment of writing this article, there are hundreds of initiatives in different countries from various continents. They cover a wide range of topics like economy, cryptocurrencies, voting systems, health records, government procedures and ID registration and tracking.
Source Page:- https://cryptoflash.io/posts/409093