Why the Public Sector should care about Blockchain now

With 13 years of experience working as a lawyer in the Public Sector, I know how it ticks pretty well. People blame the administration often for being slow and not following the new trends of technology. While this perception might sometimes carry a grain of truth in it, the people working in the Public Sector are often just focused. They are focused on making our state work smoothly. They concentrate on getting the job done that is in front of them for the common good. That’s why they can’t follow just any trends. If they jump into „AI“ now, they will neglect more essential tasks. Yes, most administration in Germany and Europe is behind on digitalization – but not for not caring about technology as such, but because of more critical issues that needed attention.

So why should the Public Sector in Germany, in Europe or worldwide care about blockchain now – a technology that many don’t understand fully, that seems in its early development, without any significant adoption yet?

The answer is simple: Because blockchain technology may be a game changer in „getting the job done“ and solving issues the Public Sector had been dealing with for years.

A short overview

Many think the blockchain is only a booking system for internet currency. That’s the old „Blockchain equals Bitcoin“ misunderstanding. While Bitcoin is very important (and I’m a huge supporter of cryptocurrencies), it’s only one small aspect of the many possibilities the Blockchain has to offer for the Public Secotr.

Unnoticed by many, technology reverses our lives. So far, lengthy pleadings and control bodies such as banks or authorities have established trust between contractors. Now the blockchain creates security. It intervenes in many areas of life: logistics chains such as pharmaceutical transports can always be viewed without any gaps. Keeping the user’s information anonymous, the blockchain validates and maintains a permanent public record of all transactions.

The sharing economy is there and can be handled directly through the blockchain. Directly from A to B. This development also opens up new possibilities for cryptocurrencies. Entire industries will benefit from the security and incorruptibility of the blockchain and thus question the existing order. We are talking about the transformation of our centralized society towards a decentralized structure from which not only cryptocurrencies but also almost all areas of our lives can profit. Any form of mediator between producer and consumer, be it music publishers, agencies or electricity providers, banks. could become superfluous.

Examples exhibit how a land transaction platform eliminates the need for notaries and land registers. Startups continue to promote the technology and make it usable for government activities or e-voting. Blockchain might be part of the „Govtech“ movement.

There are already numerous concepts that could decisively influence the life of tomorrow. It is foreseeable that this trend will stop not least in front of the public administration because the Blockchain provides a framework for the simplification of work processes, which are still characterized by high administrative overhead. If technology establishes as expected, it is likely to have a positive impact on the labor market. However, wherever jobs disappear, on the one hand, new ones are created on the other. Even today, the big portals are searching feverishly for blockchain developers and experts.

This essay shows which ideas exist and in which way they have already been implemented or are to be implemented soon for the public sector and industry and commerce.

What is Blockchain Technology? How does it work?

Picture a spreadsheet that is duplicated thousands of times across a network of computers. Information held on a Blockchain exists as a shared and continually reconciled database. It is a way of using the system that has obvious benefits. The Blockchain database isn’t stored in any single location, meaning the records it keeps are genuinely public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet. The reasons why the Blockchain Technology has gained so much admiration are the three pillars of this revolutionary technology: decentralization, transparency, and immutability.

Picture a spreadsheet that is duplicated thousands of times across a network of computers. Information held on a Blockchain exists as a shared and continually reconciled database. It is a way of using the system that has obvious benefits. The Blockchain database isn’t stored in any single location, meaning the records it keeps are genuinely public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet. The reasons why the Blockchain Technology has gained so much admiration are the three pillars of this revolutionary technology: decentralization, transparency, and immutability.

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