The application of the Blockchain in the world
CNBC, thanks to Arjun Kharpal, analyzes the ways of application of the Blockchain by governments:
– State-backed cryptocurrencies: nations are thinking about their own digital currencies. Venezuela was the first country to introduce a State-backed cryptocurrency called “petro”. It is issued in an anti-American function, to reduce Venezuelan dependence on the United States. For similar reasons, China, Russia, Turkey, Qatar and Iran have also talked about digital currencies issued by the State.
– Vote: people voted via a mobile app which was essentially the equivalent of a ballot paper. The mobile ballots are “tokens” or potential votes which are cryptographically tied to a candidate. The voter makes their decision, it is verified by a number of different servers or computers known as “validating nodes.” Upon verification, the token or ballot paper is debited from the voter’s ledger and put on the candidate’s ledger.
– Supply chains: many companies have successfully tested the effects of the Blockchain in this sector and the British government carried out a pilot using blockchain technology in a cattle slaughterhouse.