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Leverage Blockchain For Government To Protect Sensitive Data, Streamline Processes and Reduce Fraud, Waste, and Abuse While Simultaneously Increasing Trust
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The public pressure is constantly increasing for an improved performance, transparency, and accountability while reducing costs and many governments are migrating to blockchain technology to overcome the challenges. Blockchain obviously has huge potential in modernizing the government and public sector. Also, it is believed by most of the governments around the world, that the technology could be a foundation for the strong government system that enables security, flexibility, reduce opportunity for corruption, increase trust in government and high performing government functions.
Blockchainappsdeveloper is an eminent blockchain application development company, offering blockchain solutions for government and public records to enhance trust and reduce risks. Our blockchain-based governmental model will allow the individuals, businesses, and governments to share the resources over a distributed ledger, which will be secured using cryptography, thereby eliminating single point of failure and inherently protecting sensitive citizen and government data.
Government is the most important sector that requires utmost security and privacy as it involves huge confidential data. Several critical public sectors lack in security and is under threat now. Despite security, there are more problems in the government sector today.
Handling huge amount of data is the major issue faced by every public sector around the world. With the advancement in new technology, hackers get easy access into the data, and break into government and other federal systems.
The present system involves a lot of intermediaries, thereby increasing the operational cost and consumes more time to complete a specific task. As a result, cost increases due to lack of communication between the government and public people.
Data management is one of the challenge faced by the public sector on a regular basis. Millions of data are stored in various forms and still few government uses paper to record data. This consumes a lot of time to find any information and fail to make necessary decision at the required time.
The identity of an individual has to be maintained safely in a reliable way. But the existing system has not streamlined the identity of public and this might also be easy for hackers to hack the information.
Government allots certain benefits for the economically backward people and allots certain sum of money to enhance specific things in the country. But in reality, the resources are not utilized properly and this is mainly happening because of lack of monitoring and transparency.
The major issue with voting is that not all the citizens of the country participate and there is no transparency in counting. The possibility of fake votes are more and the right government is not be selected.
Blockchain is the distributed ledger technology, that can bring ground breaking changes to the government when applied correctly to the government sector. Blockchainappsdeveloper has strong experience in blockchain and smart contract and believe that our solution could possibly solve each and every problem of the government to a great extent.
The blockchain technology is well-known for its security, transparency and almost-invincibility. The decentralized nature of the blockchain technology makes it impossible to hack any data incorporated in the blockchain network. Once a data is organized into block and added to the chain as it is verified by the other nodes on the network, the data management problem faced by the government will be solved with the blockchain. Consensus mechanism and algorithms are basically used to add a new block and verify it before adding to the blockchain network. Also, the management of large size of data is not a problem because the data is not stored in a single place and can be accessed from anywhere with the private key.
Smart contracts can automate and streamline the government operations easily with zero fault in process. The rules and regulations are pre defined in the smart contract and when the rules are satisfied, the task will be performed. This saves time and eliminates the need for a middleman to verify the process. Smart contract in blockchain almost destroy the illegal activities like corruption, wrong allocation of resources, etc.
As blockchain is transparent in nature, the resources will be utilized properly and the public will be fully benefited from it. Healthcare, finance and all personal records of every citizens can be managed using the blockchain, and governments can certainly put this technology to good use to improve its public sector dealings.
To manage physical, social and business infrastructure, while utilizing the efficient and optimal utilization of available resources, a smart city uses smart technology. Integrating with blockchain, government can deliver innovative services and solutions to citizens.
Having the academic and professional data on an encrypted identity wallet, individuals can control the access to their data. This enables several schools, universities, and employers to verify attestations for the courses and work achieved.
With the vaccination record integrated to the blockchain, the schools, insurance and medical providers can easily validate the vaccinations quickly. It automatically notifies the corresponding micro payment and authorities to access the benefits based on medical status.
Smart contracts are coded and programmed to manage the loan and sanction application, reject loans and review compliance with terms and conditions. This will produce real time data, enhance transparency and security.
The tax collection process can be streamlined using the blockchain technology with smart contract functionality. The income, expenses, tax deductions and other details are automatically calculated so that tax payments are more transparent, secure and efficient.
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