As an emerging technology, Blockchain is predicted to play an indispensable in our ever-connected data-driven world.
To many in the industry, Blockchain has a great potential to solve and streamline complex
challenges related to IT security, information accuracy, and reliability.
When it comes to Government agencies for instance, according
to IDC, it's possible that blockchain
technologies could be a key tool for confirming data origin and accuracy,
tracking updates, and establishing true data authority for millions of
different data fields.
It can help create a structure for government to reduce
fraud and boost security, especially when it comes to data tampering. It can
also help to establish new relationships between government and citizens
regarding the way data is collected and shared in a transparent manner.
Blockchain can serve as a foundation for improving the
authenticity and accuracy of government records.
Blockchain capabilities could lead to significant advances in the
realms of digital voting, land registries, patent, copyright and trademark
issues, and even smart contracts associated with Internet of Things solutions.
IDC Government Insights anticipates system integrators to be key
drivers behind building prototype solutions, showing government agencies how
they operate, and how they can help establish data authority and boost data
accuracy.