World Governments Are Probably More Enthusiastic About Blockchain Than Perceived

[son.aux]

In about five years from now, the global blockchain government market will be worth nearly $3.5 billion, claims a new study by B2B research and analysis firm MarketsandMarkets. To put things into perspective, that’s a net growth of about 3,400% compared to where the corresponding figure stood just a year back.

Read more: https://blokt.com/news/world-governments-are-probably-more-enthusiastic-about-blockchain-than-perceived-finds-study

Key Findings
The report underlines the need to ensure data safety and boost operational efficiency as the key reasons driving the growing government interest in the technology. It states that authorities that have incorporated (or are planning to incorporate) blockchain in the government machinery seem convinced that digital ledgers are much less vulnerable to tampering and can help ensure decentralized and transparent governance.

In addition, public sector transactions are also likely to be expedited by the introduction of blockchain in many government departments and agencies.

The researchers segmented the global blockchain government market into five regions, of which North America is likely to be the one with the biggest share of the market. Europe is likely to closely follow at the second spot, with the Asia Pacific, Middle East and Africa, and Latin America at the third, fourth and fifth spots, respectively.

As for businesses that the study expects to take a lead role in the supply side of things, IBM (US), Microsoft (US), Amazon Web Services (AWS), Oracle (US) and Deloitte (US) are likely to emerge as the biggest blockchain government application vendors.

Other key stakeholders might include:

Infosys (India), Auxesis Group (India),

Bitfury (Netherlands), Cegeka (Netherlands),
Guardtime (Estonia), BTL (Canada),
Factom (US), SpinSys (US), ModulTrade (UK),
brainbot technologies (Germany), OTC Exchange Network (US),
Somish (India), Blocko (South Korea), Symbiont (US),
Blockchain Foundary (Singapore), BigchainDB (Germany),
RecordsKeeper (Spain), Intel (US) and Accenture (Ireland).

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[davis196]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.Again,the only one,who is going to make the big profits from this treand will be the big online corporations.The tax payers will be ripped off again.

[Leona unice]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.Again,the only one,who is going to make the big profits from this treand will be the big online corporations.The tax payers will be ripped off again.

Considering your whole point, you should understand that how it's gonna work .
if the strategy they were planning of converting blockchain into the global alliance till 2023 then massive amount of energy will be involve. Hence, when government and private sectors will start collaborating, the process will be more than enthusiastic because the cost will be managed and the taxes we are paying will be worth because if you have read the pros and cons of this technology its the safest we can have without any corruption. One such example I found out while going through the journals that Auxesis group from India has already been collaborated with their government and now the capital graphs including the audience accessing through it setting an evolutionary glance, so if this happens with each tech force cooperating blockchain, it can make the assumption true.

[dothebeats]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.Again,the only one,who is going to make the big profits from this treand will be the big online corporations.The tax payers will be ripped off again.

The application of blockchain that they'll use would probably not include bitcoin's traditional PoW scheme as you know it. Blockchain isn't limited to just coins and whatnot, it could also be used in logistics, banking and finance.. you name it. They'd be keen on developing such a tech considering how cheap and easy it is to implement and have a robust system compared to their obsolete systems which are, up to now, still prone to hacks and thefts. Blockchain might be the greatest innovation of the 21st century and might be the invention that the world is waiting to spark yet another industrial revolution.

[Leona unice]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.Again,the only one,who is going to make the big profits from this treand will be the big online corporations.The tax payers will be ripped off again.

The application of blockchain that they'll use would probably not include bitcoin's traditional PoW scheme as you know it. Blockchain isn't limited to just coins and whatnot, it could also be used in logistics, banking and finance.. you name it. They'd be keen on developing such a tech considering how cheap and easy it is to implement and have a robust system compared to their obsolete systems which are, up to now, still prone to hacks and thefts. Blockchain might be the greatest innovation of the 21st century and might be the invention that the world is waiting to spark yet another industrial revolution.

Exactly when the governing technology is reaching for not an inclination but counting more into decimals then the blockchain has tremendous countdown for a so managed system whether its banking or business. And its true technology does not consist the boundaries but ignoring the seemlessness, because blockchain tech is just a system the work will be done by the inbuilt processing power, which if we look back the time we can relate it to the computer revolution same it is in the financial sector. We need it because the security and technology combined might take us to next step of future we are imagining.

[Palmerson]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.Again,the only one,who is going to make the big profits from this treand will be the big online corporations.The tax payers will be ripped off again.

The government does not understand that in order for bitcoin to exist successfully, each participant receives a small reward for maintaining the network. Governments are used to taking money from the population. I do not believe that the government can create a successful project. A predator will never become a herbivore.

[Leona unice]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.Again,the only one,who is going to make the big profits from this treand will be the big online corporations.The tax payers will be ripped off again.

The government does not understand that in order for bitcoin to exist successfully, each participant receives a small reward for maintaining the network. Governments are used to taking money from the population. I do not believe that the government can create a successful project. A predator will never become a herbivore.

Although I am not favouring anyone but to throw a light just recalling what a different point of view made things work differently. Speaking about government then the bulk of whole constituting nation in formulated way is not an easy task. Yeah I get that sometimes few fauls may keep it in some condition but not always. And blockchain is a set of technology just like we all follow rules coz certain rules are need to be followed to work functionally. Because it it's just a monarchy things will happen but in different way. We here are talking about revolution so government is not only one who is going to be responsible for it. I think we all should hand it with the hands together then only the campaign might grow like a quick shot.

[Hydrogen]

What if we lived in a world where governments were composed of computer illiterate elderly folks who do not comprehend what blockchain is, much less identify its advantages or value to society? I'm not saying that's the way the world works. But what if it did work that way and governments couldn't be relied upon or trusted to treat things like blockchain or crypto currencies fairly?

I think people underestimate the power of the individual. The capabilities of small independent organizations and communities. It might be said that initially tiny corporations like google, apple and harley davidson which had humble beginnings in peoples garages have created more jobs and more economic benefits than than governments have created with $1 trillion dollars in spending towards economic stimulus. Small medical start ups and movements motivated to decentralize pharmaceutical markets to prevent individuals like Martin Shkreli from buying up drug stockpiles and raiseing drug prices significantly could have a greater positive benefit to healthcare than large and expensive plans like healthcare reform which can cost in excess of $2 trillion dollars without producing much in the way of tangible positive benefits.

During the 08' bank bailout the US government simply gave banks whatever terms they wanted. It might be fair to say the state acted in the best interest of banks, rather than what was best for the american people. Due to that and other history, I'm not a big fan of governments which are typically pro centralization being involved with projects like blockchain or crypto which are best utilized within a decentralized format.

The last time the US government rolled out a website, it was a signup page for healthcare. The website cost in excess of $1 billioin dollars and didn't work properly when it was unveiled. Perhaps not a statistic which encourages enthusiasm about government run, designed and operated blockchain. It might sound exciting to think governments might somday rollout their own blockchain or crypto. But it is possible a small group of developers would do a far superior job, on an exponentially smaller budget.

[Direwolve735]

State services are one of the most obvious areas for the use of Blockchain, and progressive governments are already working on initiatives in this area. Blokchain represents for them a number of prospects, so they are full of enthusiasm. For example, with the help of a blockchain, you can move state archival records in an open distributed registry and track shares and shareholder rights. Blockchain opens up new opportunities for countries.

[daarul50]

We are aware of transparency and bookkeeping data from blockchain technology is so amazing that no one will be able to misuse data because all the servers are connected and terkorfeng. However, do not be too enthusiastic about this plan because realiasation may be the largest project in the world in terms of technological updates let alone by companies in the world related to the provision of tools to support the use of blockchain in government systems.

[Slash61]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.Again,the only one,who is going to make the big profits from this treand will be the big online corporations.The tax payers will be ripped off again.

If it is beneficial then they are also not origin in making decisions, comparable to the security of Blockchain technology that is given to the company, everything is in the calculations in every facet, negotiating is an interaction that can launch everything.

[bob123]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.

OP said they are enthusiastic about blockchain.
This does NOT mean that the costs (electricity) will be higher than currently 

It is not about an asic-flooded PoW chain, but about decentralized, immutable and trustless data storage. You have to see the value in it.
Just because they might use a blockchain, this does not mean that they use PoW or any other currently existing consensus algorithm.

[kevoh]

They won`t be so enthusiastic,when they find out how much it will cost to implement the blockchain technologies and much electricity will be consumed.Again,the only one,who is going to make the big profits from this treand will be the big online corporations.The tax payers will be ripped off again.

I doubt if electricity is going to be much of an issue. Blockchain technology offers a lot of use cases to the government in the areas of Healthcare, Voting, Identity Management systems e.t.c A country like the U.A.E (Dubai) for example, being a tourist destination, is planning to use Blockchain technology to cut down large chunk of manhours usually used in processing over millions of documents annually. This could save them about 5.5 billion Dirhams annualy! Source: https://smartdubai.ae/en/Initiatives/Pages/DubaiBlockchainStrategy.aspx

In other words, the advantages gained through proper usage of the Blockchain technology by the government outweighs the issue of electricity usage.

[vlad230]

Yes, I bet the are enthusiastic but the only problem is they didn't think of it first to be able to somehow control the decentralization involved.

Some coins on the market right now are not really decentralized anyhow, I bet any government issued coin would follow their path.

No government would renounce the control of the money.