Governments and public sector can leverage on blockchain to offer:
- improved efficiency,
- automation of processes,
- transparency and
Using blockchain in this sector can bring about a number of opportunities for the provision of public services.
For allocation of public benefits (like pensions, grants, subsidies or vouchers), blockchain systems can allow for more efficiency, transparency and programmability.
A decentralised network can be put in place to manage transactions without relying on additional third parties or intermediaries.
In education, blockchain can be used to register digital credentials or certificates, and enable their immediate verification and validation.
It can also reduce bureaucratic procedures for education institutions, employers, graduates and jobseekers.
However, so far blockchain has offered incremental rather than radical innovations.
Challenges for its use in the public sector include:
- inputs from centralised or government-owned systems,
- high volume, complexity and fragmentation of public services, and
- ability to set up and scale up stakeholder collaboration
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Blockchain Now And Tomorrow - Assessing Multidimensional Impacts of Distributed Ledger Technologies
Report: Blockchain Now And Tomorrow - Assessing Multidimensional Impacts of Distributed Ledger Technologies
Facts4EUFuture - a series of reports for the future of Europe