Charles Hoskinson unveiled how blockchain instruments can transform governmental institutions
Charles Hoskinson, CEO and co-founder of IOG, the software studio behind Cardano (ADA) blockchain solutions, shared his views on the prospects for blockchain-based instruments in government systems.
More transparency for better decentralization
Mr. Hoskinson sat down with Yahoo Finance’s The Crypto Mile podcast to discuss the most promising use cases for blockchain systems in governance solutions.
Hoskinson says that as distributed, democratic, permissionless systems, blockchain systems can make public services more accessible than ever:
It enables the poorest and most vulnerable person in society equal access as the president of the US, and there has never been a time in human history that that has been the case.
Also, it can prevent one nation (US, China) from gaining overwhelming control over global political processes. This, in turn, will increase the quality of governance:
It is a better way of doing things with less friction, less fraud, less waste and abuse and more transparency and ultimately less consolidation of power.
Along with this, blockchain-based government systems will be fully interoperable with the same systems in other countries.
Cardano launches lab at University of Edinburgh: details
To start with, the public services sphere boasts numerous use cases crucial to the adoption of blockchain technology, such as land contracts, commercial and government voting, health information, educational credentials, tax and legal information and so on.
To explore various aspects of decentralization and its use for governance use cases, IOG will create a new entity within its partnership with the University of Edinburgh. Hoskinson stressed that his team will study all blockchains, including Bitcoin (BTC) and Ethereum (ETH), to find the best one for such use cases.
As covered by U.Today previously, Cardano (ADA) inches closer to its most crucial update in months, the Vasil hard fork. It is set to optimize the transactional logics of Cardano (ADA) and make it more suitable for seamless dApps onboarding.
