Economic Growth Blockchain Technology and Smart GovernanceNovember 23, 2018
Smart governance is the key to unveiling the economic growth. Smart governance will lead to smart transformations in the overall management of the cities and villages.
IoT and real-time data has a major role to play in synthesizing predictive data. Behavioral data has a major role to play in triggering digital innovation that contributes to the success of the smart governance programs.
Improved mobility, improved infrastructure, improved public safety, improved talent, improved environment, improved payments and a lot of improvement in smart governance programs can be streamlined using blockchain technology.
Controlling the traffic and enabling traffic management systems that are connected via blockchain technology can, in turn, contribute to improved public safety on the road. A lot of creativity, when supported by appropriate resources, can help improve pollution control in the cities. By making use of the secure, and open database in blockchain technology, the information infrastructure can be used to realize the full potential in traffic management.
While funding is a challenge in developing the infrastructure of smart cities. Blockchain technology-based infrastructure funding either by concessions in advantage, revenue sharing, or facilitation by department budgets can all contribute to improved financial support to make smart cities even smarter.
Effective governance needs effective technology and blockchain is the answer. This technology can also help in solid waste management and a range of environmentally friendly projects. No amount of capital can improve governance without appropriate strategy and creative technology in place.
A responsible and accountable political system where the public and the private firms cooperate beyond the status quo can be developed using this technology. This can eventually lead to establishing better lives and better opportunities for citizens.
Smart governance is a government that is data smart. The long-term sustainability and the quality of the goals to be achieved can be monitored and enabled with the strategic flow of work pattern. This, in turn, can help create proactive insight enabling technological expertise with appropriate dApps in place. Each of the dApps can be customized to streamline flow of action, and in turn, these apps can be further integrated to higher functioning protocols by making use of XDC Protocol from XinFin or any other equally reliable blockchain technology.
The operating expenses involved in dealing with waste from landfill and in turn investing in recycling programs need efficient management systems in place. This can, in turn, be improved by strategic programming of the recycling and waste management systems using the blockchain technology. The sustainability of smart governance of any kind stays with environmental wellness. This can be efficiently put in to place using the blockchain technology.