FINANCE

Public sector

Public sector nicola.roversi@blockchainpro.it March 11, 2023

SUMMARY

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Problems

The issues of the public sector: bureaucracy, corruption, and outdated infrastructure
The public sector is often the subject of criticism and controversy due to a series of issues that afflict it. Among these, there are excessive bureaucracy, corruption, and lack of maintenance and modernization of public buildings and infrastructure.

Excessive bureaucracy: an obstacle to the efficiency of the public sector
Excessive bureaucracy represents one of the main obstacles to the efficiency of the public sector. The system of rules and regulations is often too complicated and makes it difficult for citizens and businesses to interact with it, causing delays in administrative processes and a waste of time and resources.

Corruption: a serious problem for the country’s democracy and economy
Corruption is a serious problem that threatens the country’s democracy and economy. It can take many forms, from bribery to personal favors, but the result is always the same: public money is spent improperly, to the detriment of citizens and the country’s economy.

Outdated public infrastructure: the lack of maintenance and modernization as an additional problem of the public sector
The lack of maintenance and modernization of public buildings and infrastructure represents an additional problem for the public sector. Many public buildings are in a state of disrepair and need to be renovated, but often there are not enough financial resources to address these issues. The same applies to infrastructure such as roads and railways, which are often outdated and do not meet the needs of citizens.

Solutions

Blockchain Technology: A Solution to Public Administration Challenges
Blockchain technology is an innovative solution to address many of the challenges facing public administration, such as excessive bureaucracy, corruption, and building and infrastructure maintenance.

Streamlining Administrative Processes: Smart Contracts
Regarding bureaucracy, blockchain can simplify administrative processes through Smart Contracts that automatically activate based on specific conditions. This allows citizens and businesses to interact directly with public administration, eliminating intermediaries and reducing waiting times and bureaucratic inefficiencies.

Fighting Corruption: Transaction Transparency
Blockchain can combat corruption through transaction transparency. Its immutable nature ensures that transactions occur in a transparent and secure manner, preventing data manipulation and corruption.

Maintenance and Modernization of Buildings and Infrastructure: Public Asset Management and Monitoring Systems
Blockchain can contribute to the maintenance and modernization of buildings and infrastructure through Public Asset Management and Monitoring Systems. Its decentralized nature allows for the creation of a sensor network that monitors the status of buildings and infrastructure in real-time, reporting any issues and ensuring timely and efficient maintenance.

Case Studies

Advantages

How Blockchain Technology is Revolutionizing Administrative Processes
Blockchain technology is revolutionizing the efficiency, transparency, and security of administrative processes. According to the World Economic Forum report in 2018, the use of Blockchain in public procurement management has allowed for a 60% reduction in tender execution times thanks to increased transparency and reduced fraud.

Blockchain and Data Security and Privacy
Blockchain is increasing data security and protecting citizens’ privacy, particularly regarding the management of patient health data. According to a 2020 European Commission study, the use of Blockchain can help ensure the security of health data and protect patients’ privacy.

New Decentralized Public Service Models Thanks to Blockchain
Blockchain technology is enabling the creation of new decentralized and autonomous public service models. According to a 2020 OECD study, the use of Blockchain can enable the creation of new digital identity services, property and title management, and electronic voting.

Global Successes of Blockchain Technology with International Collaboration Initiatives
At the global level, Blockchain technology is having great success, with numerous collaboration initiatives between governments and international organizations. For example, the World Bank has launched a Blockchain pilot project for land registry management in Georgia, improving access to property and reducing fraud.

CONSULTING
Find out how we can help you
Our consultancy focuses on analyzing processes and specific requirements for the adoption of blockchain technology within the public administration. Our objective is to evaluate the potential impact of the technology and identify processes that can benefit the most from blockchain implementation.
1
Initially, we identify specific use cases of the technology within a supply chain tracking service.
We examine the current tracking practices used by the public administration and evaluate how blockchain can improve the efficiency and transparency of these processes.
2
Next, we analyze the necessary technological requirements for implementing blockchain technology.
This includes evaluating available blockchain platforms, selecting the platform that best suits the needs of the public administration, and identifying necessary security and encryption protocols to ensure data protection.
3
Finally, we assess the costs and benefits of adopting blockchain technology through a feasibility study.
This includes analyzing initial and operating costs, evaluating possible economies of scale, identifying risks and challenges associated with implementing blockchain, and estimating potential long-term benefits.
If you want to understand how our consultancy can support your organization in adopting blockchain technology in public administration, we invite you to request a free 20-minute introductory call with one of our experts.
During the call, we can examine the details of our service and assess together the specific processes that can benefit the most from blockchain adoption, outline the necessary technological requirements for implementation, and evaluate the costs and benefits of adopting the technology. Don’t hesitate to contact us to book your free 20-minute call and find how we can help you.
CONTACT US
Book a free consultation
Click on the link below to book your free 20-minute introductory call and find how we can help you achieve your goals.
We look forward to speaking with you!
SERVICES
We provide concrete solutions to market limits, through blockchain technology

Since 2018 we have been guiding companies in responsible innovation, through the choice and best application of decentralized technologies. With offices in Venice and Milan, partners in Europe and the Middle East, we are the reference Blockchain Integrator for medium and large companies. We are part of a continuously growing Group that offers an integrated platform of services for innovation and research in the technological field.

FAQ
Asking is legitimate, providing answers is our duty
To request your free 20-minute consultation, simply contact us via our website or email us with your contact details and a brief description of your needs. During the call, one of our experts will review the details of our service, evaluate with you the specific processes that can benefit most from the adoption of the blockchain, define the technological requirements necessary for the implementation and evaluate the costs and benefits of the adoption of technology.
An example of a successful use case is the collaboration between Bitfury and the Republic of Georgia to create a blockchain-based property registration system. The “Lanchkhuti” platform allows Georgian citizens to easily register and verify ownership of their properties, creating a transparent and secure system that reduces corruption and lawlessness.
The blockchain can simplify administrative processes thanks to smart contracts, which are activated automatically based on specific conditions. This allows citizens and businesses to interact directly with the public administration, eliminating intermediaries and reducing waiting times and bureaucratic inefficiencies.
Blockchain can fight corruption through transaction transparency. Its immutable nature ensures that transactions occur transparently and securely, preventing data manipulation and corruption.
The blockchain can contribute to the maintenance and modernization of buildings and infrastructures thanks to the management and monitoring systems of public assets. Its decentralized nature allows the creation of a network of sensors that monitor the status of buildings and infrastructures in real time, signaling any problems and ensuring timely and efficient maintenance.