Why Prefer Blockchain Development for Government?
Blockchain is a decentralized technology that allow government and public sector to share content, resources, license intellectual properties and protect them with unhackable encryption. With blockchain, governmental departments and users can connect with each other directly and get access to any crucial information without any third-party intervention that traditionally levies an extra charge. Blockchain helps governmental agencies to retrieve any information quickly, open credit accounts instantly with appropriate authorizations, etc. Maintaining assets, records and securing digital identities are some of the benefits of using blockchain by governments.
Business Models for Blockchain in Government
Blockchain for Law & Order
Enforce laws and regulations strictly that cannot be changed once implemented
Blockchain for Healthcare
Enhance the interoperability between health institutions regarding transfer of medical data
Blockchain for Real Estate
Connect land sellers with buyers directly, instantly and speed up the land registration process
Blockchain for GDPR and data privacy
Protect and verify all regulations for security of stored data
Types of Blockchain
Private Blockchain
Public Blockchain
Services that We Provide for Blockchain in Government?
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Safeguard all government official’s identity especially for those in law & order
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Streamline governmental records and smooth cross domain file transfers
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Enhances multinational information authenticating and sharing
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Make cross border payments privately with cryptos and maintain confidentiality
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Develop and manage health record of citizens in a structured manner
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Speed up the process of legalizing and licensing of lands and private properties
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Enhance General data protection regulations (GDPR) with blockchain
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Provide government loan providers with the authority to track loan payments
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Ensure that all governmental operations are transparent
Benefits of Hiring SoluLab for Blockchain in Government
Technology and Tools We Use
Ethereum
Enables developers to build and deploy decentralized applications
Hyperledger
A shared ledger that utilizes cryptography and supports smart contracts
Solidity
A statically-typed programming language designed for developing smart contracts
Truffle
Act as a developer environment and testing framework for blockchain technology
R3 Corda
Open source blockchain designed specifically to meet the demands of modern day businesses
Ripple
Provides one frictionless experience for sending and receiving money globally
Quorum
Platform that addresses specific challenges to blockchain technology adoption within the financial industry and beyond
IOTA
Open-source distributed ledger built to power the Machine Economy through fee-less micro-transactions and data integrity
Work speaks louder than words
What our client says
Based on what I’ve seen from our beta tests, the site is quite stable.
They manifested our concepts and were quite responsive.
They’re very agile and able to use the technology you need to solve the problem, not the other way around.
FAQs
Solulab is a perfect fit in blockchain development for government sector for several reasons. You can transform your business digitally and avoid any sort of fraudulent activities. Increase accountability by growing smart with technology and increasing accountablity.
You can also make use of expert advice to make use of resources optimally which in turn will also save your time and cost. Efficiency in work is accomplished with transparency in communication.
As blockchain and cryptocurrencies are still in their infancy, finding the proper people who can produce the result on time isn’t easy. According to Codementor.io, developers charge hourly rates: average and median: – hourly rates range from $81 to $100 on average; hourly rates on the median range from $61 to $80. Therefore, using offshore or nearshore software development services is the most excellent option to reduce the cost of blockchain deployment and development. Software outsourcing is another name for this procedure.
For entities transacting with one another, blockchain for business is worthwhile. Permissioned users can access the same information simultaneously using distributed ledger technology, improving efficiency, building trust, and reducing friction. Blockchain also enables a solution’s size and scale to be quickly adjusted, and many answers can be customized to do many jobs across industries. The benefits of blockchain for business are based on four unique characteristics of the technology. Business leaders will learn how blockchain technology may aid in the development of more efficient procedures and innovative financial models. The use cases and ideas in this practical guide are industry-specific.
Blockchain storage stores data in a decentralized network that uses idle, hard disc space from people worldwide. The decentralized architecture is a viable alternative to centralized cloud storage and can address many issues that plague centralized systems. The purpose of a blockchain is to allow the recording and distributing of digital information to all participants but never editing. One can use a blockchain to store a variety of data (election votes, product inventories, state identifications, home deeds, and so on); Bitcoin only uses it to create a transparent log of payments.
Blockchain eliminates redundancy, streamlines operations, lowers auditing costs, improves security, and maintains data integrity. Cryptocurrencies like Bitcoin are decentralized digital currencies, and other cryptocurrencies have dominated the news in recent years. The federal government may use blockchain technology to better its cybersecurity efforts. A blockchain-based digital government can protect data, improve operations, and reduce fraud, waste, and misconduct while simultaneously improving trust and accountability.
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