number of government departments in Thailand are turning their head towards
blockchain technology for the oil industry, recent reports argue.
by Ledger Insights, Thailand’s Excise Department has announced its
partnership with Krungthai Bank in order to make use of distributed ledger
technology for tax refunds to oil exporters and also prevent VAT fraud in the
making use of blockchain, the excise department will have a clearer picture of
the export route, from a refinery to the shipping dock, all the way to the
destination country. With all the documents on a blockchain, it also becomes
easier to verify the trade.
terms of recent governmental adoption, Uruguay
and Liechtenstein have announced their move towards blockchain adoption for
government use cases. The Uruguay Digital Party has signed an agreement with
Aeternity, a blockchain platform provider, in order to build a system where
blockchain could be used for internal voting and ‘optimise the participation
processes of citizens.’ Meanwhile, the parliament of Liechtenstein has
unanimously approved the Token and VT Service Providers Act (TVTG).
Liechtenstein has now become the first country to have ‘comprehensive
regulation of the token economy.
the Blockchain Expo Global event in London earlier
this year, Janak Kalaria, principal of strategic consulting firm ICF, spoke
on the intelligent blockchain solutions for increasing the effectiveness of
government services, citing examples from the US in the process.
“Blockchain as a technology provides a lot of benefits,” he said. “There are so many different use cases within the government. Typically there are a lot of legal documents being passed back and forth, between different parts of government, as well as different vendors and the government. And there’s no transparency. One important thing is the legacy systems within government are not going anywhere. They were designed for a reason and it does its job.”
Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.
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Credit: Blockchain News