Blockchain technology is a shared database that records transactions in a network of blocks that are linked by cryptography. Every transaction in this ledger has the owner’s digital signature, which verifies the transaction and protects it from tampering. Once a new transaction is made, the data is attached to the previous block, forming a chronological and immutable chain of records. This technology enables for the recording and distribution of digital information, but not for editing.
The most common application of blockchain has been for financial transactions. However, gradually the technology has expanded to other fields, including government activity. Due to its properties, it assures that any copy of the data is always available, verifiable, and trustworthy.
The European Blockchain Partnership (EBP) launched in 2021 has one initiative that is worth mentioning – the European Blockchain Services Infrastructure (EBSI). According to their strategy document, EBSI is a peer-to-peer network of interconnected nodes that runs a blockchain-based services infrastructure. At least one node will be run by each member of the EBP – the 27 EU nations, Norway, Liechtenstein, and the European Commission.
The infrastructure in question is made up of different layers including:
Continue reading: https://www.mercurynews.com/2022/06/10/blockchain-based-digital-government/
The most common application of blockchain has been for financial transactions. However, gradually the technology has expanded to other fields, including government activity. Due to its properties, it assures that any copy of the data is always available, verifiable, and trustworthy.
The European Blockchain Partnership (EBP) launched in 2021 has one initiative that is worth mentioning – the European Blockchain Services Infrastructure (EBSI). According to their strategy document, EBSI is a peer-to-peer network of interconnected nodes that runs a blockchain-based services infrastructure. At least one node will be run by each member of the EBP – the 27 EU nations, Norway, Liechtenstein, and the European Commission.
The infrastructure in question is made up of different layers including:
Continue reading: https://www.mercurynews.com/2022/06/10/blockchain-based-digital-government/
