Government organizations across the globe are exploring the use of blockchain technology to improve efficiency and transparency. The ability to record transactions on distributed ledgers offers new approaches for governments to improve transparency, prevent fraud and establish trust.
According to a recent survey conducted by IBM and the Economist Intelligence Unit, government interest in blockchain is high:
- 9 in 10 government organizations plan to invest in blockchain for use in financial transaction management, asset management, contract management and regulatory compliance by 2018
- 7 in 10 government executives predict blockchain will significantly disrupt the area of contract management
- 14 percent of government organizations expect to have blockchains in production and at scale in 2017
country breakdown chart:
Building Trust in Government – Exploring the Potential of Blockchain, IBM Institute for Business Value; Survey conducted by The Economist Intelligence Unit, 2017