Benefits of Telos Blockchain in Government Processes

Today the blockchain has evolved in a way that many governments and private companies have wanted to include it in their system and processes. The network has provided solutions for administration, security, voting process, among many others, which help optimize their operations.

Telos, being a blockchain with governance, security, arbitration, speed, transparency, low costs for development, provides governments and companies around the world profitable and sustainable alternatives.

Transparency is the most important feature in the solutions that Telos can provide in governments. Governments can show to their citizens that the financial transactions they are making correspond to the annual budget that is granted for their public and private expenses. Another process that benefits from this technology is elections, since many countries do it manually, causing distrust of the voters; The blockchain keeps the data secure since it is encrypted in a way that the result of the election can not be altered.

In addition, the chain of blocks allows a reduction in operating costs since it decreases the human resources that work in the distribution and recording of data. Telos can provide solutions for the processes that lead to property deeds and land records, where there have been many cases of scams and forgery of documents, with blockchain this is avoided.

Estonia- KSI / E-Estonia

Estonia also developed the technology called KSI, a technology that has been designed to ensure networks, databases and systems maintaining the privacy of the data. The KSI platform built up in government networks, ensures that the information is not changed, this means that not even hackers or even the government itself can reform that information and not be noticed.

Chile-Real Estate Madesal

In Chile, they have launched the first real estate platform based on the blockchain. The real estate company called Madesal formed an alliance with the company Purplex to create this platform. It consists of buying and selling homes with transparent processes documented in the blockchain, where the user can monitor the status of the entire process. In addition, the prospective buyer can access files and complete the purchase / sale, guaranteeing the commitment until the new property is sold or handed over. The platform accepts cryptocurrency as a payment method.

Venezuela-Petro

It is the first cryptocurrency issued in 2018, by a government entity and is acquired through the exchange pages with license or through the website of the treasury of cryptoactives of Venezuela. This currency is supported by oil, gold, diamonds, among others. The primary goal of the government is to eradicate the American currency (dollar), and ensure that citizens do not use it as a method of payment. This cryptocurrency does not respect decentralization, which is the essential characteristic of crypto and blockchain, since it is controlled by the state itself, and is not governed by the law of free supply and demand, and being a factor that influences in all the economic measures that the government has imposed, such as exchange control. In addition, the government can issue more Petros than they can support and introduce it into the market, reducing its value and losing the credibility that such currency needs to exist.

Denmark-Liberal Alliance

In Denmark, they have already applied the use of the blockchain for voting processes, in this case it was for the internal elections of the political party called Liberal Alliance in 2014, and they continue using this modality at present.

Georgia (Eastern Europe) — National Agency Public Registry (NAPR)

The Georgia government has created in association with BitFury Group, which operates as a software manufacturer, a platform launched in the blockchain, which issues information on land transactions, essential citizen information, and also verifies the veracity of the proprietary deeds; the platform optimizes the processes saving money and time. This platform called the National Agency Public Registry (NAPR), offers the possibility for millions of people to access proprietary documents in the same place, and provides support to those who cannot register their property in legal terms.

Dubai- Bank Mashreq

A mortgage platform based on the blockchain in the Arab Emirates has been launched. The bank Mashreq Bank, associated with the Dubai Land Department (DLD), the real estate agency of the Executive Board of Dubai, based in the United Arab Emirates, has developed a platform where the mortgage registries will be housed, ensuring that these records meet the correct requirements. The services offered by the platform is the visualization of the updates that occur after the sale of a property. Example: The final settlement, changes of mortgages, among others.

Dubai for 2020 wants to be the first country worldwide to perform all transactions based on the blockchain; The government estimates saving millions of dollars annually, contributing to carbon reduction and optimizing their productivity processes.

Telos Blockchain has the possibility of making major changes in governments, improving and optimizing their processes. In addition, the transparency and reliability of operations creates better relations between citizens and states.

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