Blockchain has tried to make a place for himself since his arrival. It started with bitcoin (BTC), but now the blockchain has evolved into a distinguishable entity, a technology known to offer security and privacy. At the moment, many giants of the world like Walmart and IBM have accepted the favor of this entity and there are many startups and companies that adopt it for their activities. In addition to companies and start-ups, some governments have also supported the prospects of the blockchain.
The countries that welcome the blockchain accelerate the mass adoption of more than one company or start-up because the countries are more resourceful than startups. It can be assumed that countries will be ready to give the blockchain a chance if they see substantial returns and gains in the future. Therefore, to explore the possibilities for governments to profit from the blockchain, BlockPublisher has reached Tracy Hazzard. He is an expert in product launch and brand strategist at Hazz Design. It claims to be involved in designing and developing brands for over 25 years, contributing over 250 retail products that, in your opinion, have generated more than $ 2 billion in revenue. After asking if governments could take advantage of the blockchain, Tracy proposed:
Only if they participate in the process. There are governments that use blockchain and AI to improve traffic flow, increase currency investments and improve the coordination of intelligence between agencies.
Until now, there are many governments that have shown their trust in the blockchain. Governments in countries such as China, the United States, Australia and many others have supported the blockchain for some time. In a very recent period, the state government of Vermont has taken an initiative to launch a blockchain pilot project for the captive insurance industry. Beyond that, in the near past, a Thai government agency proposed a solution to digitize the elections by voting in the country with the help of blockchain.
The participation of governments in the adoption and regulation of the use of blockchain is detrimental to the success of the blockchain. With more countries embracing the blockchain, the likelihood that the blockchain will prevail, as in the case of mass adoption, increases.