Cryptocurrencies have become used in many areas, including financial services and even the gaming industry. However, in practice, blockchain can bring huge benefits and improvement of existing processes in any area, part of which is in the digital field. Of course, one of these areas is public administration. Let's look at the application in this industry in terms of the benefits it can bring.
- Data transparency and immutability. Given the extent of corruption in the areas of public procurement and tax distribution, the principle that it will be impossible to formalize transactions in the past, or add any changes, will be extremely useful.
- Speed and efficiency. Thanks to the blockchain, processing and entering information can be much faster. This can be possible due to the fact that all nodes in the network are already connected and can exchange large amounts of data much faster than standard office computers.
- Optimizing government budget. In case if the implementation was successful, governments can reduce the cost of maintaining both facilities and some employees. Within one unit - a local town administration, for example, this is a small amount, but if we are talking about an entire country, then the total sum can be colossal.
At the same time, let's not forget that some officials can have the categorically opposite view to the integration of the blockchain in the structure in which they work. After all, then their activities will be in sight, and this can bring certain problems for them.
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