Here’s How Blockchain Technology Is Reshaping Government Administration as We Know It

Blockchain, the technology that undergirds the world’s premier cryptocurrency Bitcoin (BTC), is regularly touted as one of the most significant milestones of technological advancements in recent times. The emerging technology’s potential for creating a positive socio-economic impact is often compared to the Internet, which, today, has become an inseparable part of the majority of the people’s lives across the globe.

Government Bodies Leveraging Blockchain to Streamline Administrative Processes

Although the bulk of the use-cases of blockchain technology deal with the finance and banking industry, the technology has shown promising results across swathes of other industries including supply chain management, media and entertainment, law enforcement, and government administration, among others.

Among the aforementioned industries and spaces, government and administrative bodies across the world have developed a particular liking toward distributed ledger technology (DLT), courtesy of its anti-bureaucratic and transparent characteristics.

Improving the Argentinian Gas Verification Process

For instance, take the example of Argentinian Natural Gas Distributor, Gasnor. The gas distributor recently launched Gasnet, a permissioned blockchain network that seeks to increase efficiency, transparency, and information management in the industry.

For the uninitiated, RSK is a Bitcoin-based secure smart contract platform that utilizes Turing-complete smart-contract capabilities. RSK also trumps one of Bitcoin’s biggest bottlenecks today: scalability. Having received the approval from the Argentinian natural gas regulator Enargas, Gasnet uses RSK’s technology to transform the notoriously slow and cumbersome gas certification process into a rapid affair. The Gasnet blockchain network enables swift and transparent registration of all transactions involved in the certification process.

Further, by tapping RNS – a software architecture akin to Ethereum Name Services…

Source Link