Blockchain technology taking over world...

Now Blockchain getting strong and popular and enters the main stream govt. Business process.
Recently news released from officials ofUKRAINE, that they are singing memorandum of partnership with global Blockchain company Bitfury Group to have wide range of solutions based on Blockchain technology. Govt understand the necessity of the technology so important for the country.

Image curtsy google.

How blockchain helps?

The operation is based on Blockchain blocks of the digital records that are chronologically and cryptographic-ally bound to the chain. The process is called a hash ligament, which holds hundreds / thousands of computers on the same network. If the result of the calculations they all get the same result, then the block is assigned a unique digital signature that is stored in the registry on each computer. Hack the registry, changing the digital recording, it is impossible - it needs to have write access to your entire network at once, and when you change it receives new signature, and the discrepancy immediately detected by the system. The company says that it impossible to hack and protects all information.

Generally applies to government agencies?

Blockchain feature is its "transparency." There is such a concept of agreement, in which there is always a chance that one of the parties to break it. Now for the "motivation" contracting parties behave honestly state uses legal mechanisms, judiciary. But it is a long, expensive, and not always honest. Using blokcheyna for transactions to accelerate, simplify and reduce the cost of the procedure because of a contract requires the participation of both parties, and neither one nor the other can not cheat Blockchain already given performance of the contract parameters.

The use of technology will enhance the reliability and transparency in areas such as public administration, land registration, digital identification, implementation of the rights of persons for election to the legislature. Although the last, and there are some difficulties, because one of the main tasks of the election is to maintain privacy of citizens. A Blockchain yet arranged so that the voice can always be traced.

In addition, the technology can be applied to regulate taxation. For example, if in the future cryptocurrency become an integral part of life, then the government will be able to simplify the procedure for collecting the tax, writing off a certain amount of each transaction / transaction on a separate wallet. In this case, the need to file tax returns will no longer be at all, and the maintenance of health structures to minimize costs.

This will deal Bitfury?

Cooperation between Ukraine and Bitfury will begin with a pilot project in which the company will translate various state management Blockchain technology. It is heard that "pilot project will be lunched with in a year", but with a specific structure will - is not yet known. The variants of introduction of technology in the public registers, social security, health and energy, after the pilot list will be expanded and will cover even cyber security.

Source : http://www.reuters.com/article/us-ukraine-bitfury-blockchain-idUSKBN17F0N2
Source : https://uip.me

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