Public sector blockchain can build trust, protect data, and reduce costs

Blockchain-based solutions have the potential to make government operations more efficient and improve the delivery of public services, while simultaneously increasing trust in the public sector.

Using Boardwalk Enterprise Blockchain for Government Applications

By reducing dependence on existing intermediary institutions and their accompanying layers and costs, blockchain can potentially eliminate significant resource burdens. And by accelerating transactions and simultaneously lowering their costs, blockchain can help to eliminate layers of redundancy, ease regulatory compliance burdens, introduce record keeping efficiency, and generally smooth government operations across a number of areas. Harnessing those advantages and applying them toward public institutions’ mission goals provides an opportunity for realizing both agency-specific and whole-of-government benefits that can foster more efficient and effective mission delivery in these challenging times.

  • Building trust with citizens - research indicates that only 18 percent of Americans say they can trust the government to do what is right most of the time. Reasons for this distrust are numerous and complex, but there’s potential for blockchain to contribute to a reversal of this trend.
  • Protecting sensitive data - breaches of personal data have become a fact of life in today’s digital world. As the default record keeper for society, governments are large targets for hackers. But rather than accept such attacks as the cost of doing business in the information era, they could be mitigated or avoided through the responsible deployment of blockchain data structures.
  • Reducing costs & improving efficiency - government agencies must fulfill their mission while responsibly managing scarce resources. Blockchain solutions could reduce redundancy, streamline processes, decrease audit burden, increase security, and ensure data integrity.