The uncertain promise of blockchain for government

Lindman, Juho; Berryhill, Jamie; Welby, Benjamin; Barbieri, Mariane Piccinin

doi:10.1787/d031cd67-en

Cited by 8 publications

(2 citation statements)

References 32 publications

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“…the state, with legislation aiming to grant limited liability to DAO developers and governance token holders, and enable judicial verification and acknowledgement of transactions and smart contracts (Lewis and Zeglarski, 2021 [51]). At the same time, the US Securities and Exchanges Commission is currently probing Uniswap Labs, the development team which created the Uniswap DAO, over how investors use Uniswap and how it has been marketed (Michaels and Osipovich, 2021 [52]).…”

Section: Box 5 Makerdao: Lending Services On An Automated Decentralis...mentioning

confidence: 99%

Blockchain at the frontier

2022

OECD Business and Finance Policy Papers

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Blockchain technology is expected to drive digital transformation in the way businesses, governments and societies interact in the years ahead, including at an international level. This paper considers current and emerging uses of blockchain to strengthen beneficial economic ties between countries, including in trade and supply chain transparency, portable credentials for people and organisations, and business financing and capital formation. It also explores key concerns about blockchain's impact on global rules and multilateral policy objectives, particularly around climate impacts and uses for illicit finance. The paper underscores the value of deliberate international co-operation to realise the beneficial cross-border applications of the technology and address international challenges, highlights existing instruments and approaches, and identifies gaps and priorities, towards a more consistent and coherent international policy environment for responsible blockchain innovation.

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Section: Box 5 Makerdao: Lending Services On An Automated Decentralis...mentioning

confidence: 99%

Blockchain at the frontier

2022

OECD Business and Finance Policy Papers

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“…У нещодавньому звіті під промовистою назвою «Невизначена перспектива блокчейну для уряду» [4] ОЕСР розглянула досвід використання блокчейну в публічному секторі та проаналізувала причини успіху чи невдачі його впровадження та фактичного використання. На основі цього аналізу OECD визначила п'ять факторів успіху (наявність пропозиції з чіткою цінністю, відповідна технологія, управління зацікавленими сторонами, орієнтація на користувача та експериментування) і три фактори неуспіху (юридична невизначеність, обмежена масштабованість і руйнівність).…”

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Problems and Opportunities of Blockchain Technologies Implementation in Public Authorities

Dziundziuk,

Dziundziuk

2022

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Blockchain is one of the most innovative technologies that is currently used in many areas as part of the spread of web3 technologies. Although the origins of blockchain are linked to the emergence of cryptocurrencies such as Bitcoin, today’s application of blockchain technology focuses on a wider range of issues where trust is required for a large number of transactions. For this reason, many researchers today believe that these technologies have great potential for use in the public sector. The public sector can use these technologies to fulfill its role as a generator of innovation and progress, which is part of its responsibilities, and to modernize projects that will enable citizens to receive the services they need. Therefore, this work aims to determine the main factors of success or failure in the implementation of blockchain technology in public authorities based on the analysis of existing experience in this area, in particular, in EU member states. Blockchain has proven useful for government agencies for several reasons. First, blockchain is a technology characterized by the ability to generate trust in information and processes in a heterogeneous context with a large number of participants and users. Second, blockchain facilitates governance by leaving no traces and acts as a tool to promote transparency, as it allows people to know who did what and when. Third, it eliminates the need for a centralized certificate authority to control access and use of services by large groups of people. Fourth, the successful development of blockchain-based systems can lead to significant cost savings. However, the analysis shows that authorities are not yet ready to widely use and offer blockchain-based services. In many cases, a lack of understanding of the benefits and opportunities, as well as a still unclear interpretation of the legal and regulatory environment, prevent senior executives from making decisions that may involve greater risk. With this in mind, we believe that the implementation of blockchain technology in the public sector can be facilitated by the implementation of blockchain systems as a complement to existing tracking and transparency systems and processes, as well as increasing their efficiency while simultaneously reducing the cost of services provided. This will require the development of adaptive management structures in public institutions aimed at developing reasonable and acceptable solutions to solve real problems.

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