Unfiltered

Bitcoin and Blockchain is Toiling in a Dangerous Territory

Research suggests that tangible, real-world applications of blockchain are just on the horizon. The following years will see blockchain cement itself as an important technology in the modern age. It is for this reason that governments from all over the world are starting to cut themselves pieces of the blockchain-pie.

Italy:

The Italian government has recently begun to take steps for the regulation and protection of cryptocurrencies and distributed ledger technologies. A statement was issued that read;

“this (adoption) can result not only in the enhancement of e-government services but also increased transparency and reduced administrative burdens, better customs collection and better access to public information.”

This is a welcoming new step because even though the country has not had any significant contribution in the world of blockchain so far, the government hopes to implement this technology into several sectors, ranging from land distribution, transport, healthcare, and national registry.

India:

Not too long ago, there was news of a nationwide ban on cryptocurrency exchanges in India. In a somewhat surprising turn of events, it has been revealed that while there were talks of a ban going on, the Indian government was also researching on how to get started with their own cryptocurrency.

A senior government official from a board formed by the finance ministry said that they were pondering the creation of India’s own government-backed digital coin. The Reserve Bank of India (RBI) plans to name the new coin after the Hindu goddess of riches; Lakshmi. Although, the government still plans to outlaw all other digital currencies due to fear of money laundering and criminal activities.

Thailand:

Experts have long mused the adoption of a distributed ledger system for the purpose of election voting and Thailand’s National Electronics and Computer Technology Center (NECTEC) has recently finished developing a system for blockchain-based voting. The new project is aimed at digitizing election voting in the entire country. The head of the cybersecurity laboratory, Chalee Vorakulpipat said,

“NECTEC developed blockchain technology for e-voting that can be applied to national, provincial or community elections, as well as business votes such as the board of directors. The goal is to reduce fraud and maintain data integrity.”

Right now, they are looking for environments for testing the tech on a small scale, like elections in universities or local communities. The full-scale deployment will take some time as every voter needs to have proper identification as well as an active, affordable internet connection.

Estonia:

Estonia is considered the world’s first digital country because they have moved the majority of their governmental procedures online. In fact, before the Bitcoin whitepaper even surfaced, the government of Estonia was already testing distributed ledger technology in 2008. They called the technology “hash-linked time-stamping” back then, and it later developed into a blockchain technology by the name of KSI, which secures this digital country’s entire online infrastructure.

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Soha Ali

As vanilla as it sounds, a filmmaker in the making. Soha brings the irony out of the crypto world by contributing to the Unfiltered section of BlockPublisher. Contact the editor at editor.unfiltered@blockpublisher.com

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