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1. Administrative services

The role and duties of public administration have not changed for centuries. What has changed dramatically is the amount of data and the way public institutions process it. And while there are digital technologies in place that help collect and process the data, some issues are left unsolved -anonymization, transportability and immutability of this large array of data.

What public administration lacks at the moment is a more convenient user experience (UX) to work with the data. What could improve the UX is the introduction of a certain layer, a trusted common environment that will anonymize and store the data transparently and unalterably.

Governments are slowly recognizing these issues. Distributed systems could indeed help create such a trusted environment, improve our work with Big Data and even serve as a glue bringing all emerging technologies together including artificial intelligence (AI) and Internet of Things (IOT) . It is essential to demonstrate not theoretically but practically now that blockchain-backed systems can work, that all that experts claim is possible. In other words, more production-ready solutions are needed.

2. Payment services

Governments need to make transactions, and many of these involve an exchange of funds. Blockchain technology has potential applications in reducing the cost overhead in funds transfers. This can be done either with the help of launching new cryptocurrencies that are based on blockchain or by using blockchain as a means of transfer of funds itself. If this is perfected, the possibilities for businesses are endless, particularly for those that transact internationally or over the internet.

We may not be there yet, but the exciting possibilities are virtually calling out to the private sector and businesses.

3. Digital and intellectual property rights.

Governments have the responsibility to maintain copyright records and databases. These records prove the ownership of intellectual property. A blockchain-based system can allow for time stamping of work by various performers, artists and writers, etc. This type of system can, in theory, sniff out copyright violations and also enable the permanent record keeping of rights. Governments are making a move toward this already.

This is still in the early stages of implementation, but it opens up possibilities for businesses to duplicate the technology for record-keeping as well. Theoretically, businesses can use blockchain for accounting purposes and to sniff out errors in real time.

4. Tenders

In order to build public infrastructure or to deliver services, governments want to benefit from economies of scale as well as competitive bidding. However, the bidding process is not always fair or transparent. Public procurement has long been a victim of rampant corruption in different parts of the world. Contracts to suppliers can be awarded without fair competition. This allows companies with political connections to triumph over their rivals. Or companies within the same industry can rig their bids, so each gets a piece of the pie. This increases the cost of services to the public. We've found that corruption can add as much as 50 percent to a project's costs.

So how can blockchain fix tendering? Unlike scattered centralized systems, a single ledger powered by blockchain can refine the tendering or any other process where financial tracking needs to be as transparent as possible. The adoption of blockchain will help to track how funds are being spent and ensure the expenses are made as was intended and within the permitted time.

A majority of these cases are far from complete, but they do present a lot of possibilities for businesses and governments. Of course, the key is in implementation, but we can certainly bear to have some optimism that this often misunderstood technology just may be finding places of permanent usefulness.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.