TECH SUPPLIER May 2020 - Market Note - Doc # AP42938917
Blockchain for the Future of Governments — Exploring New Competencies and Attaining Public Trust
By: Manoj VallikkatResearch Manager, Vijay Sarathi GollapalliResearch Manager, Gerald WangHead, Asia Pacific Public Sector, Simon PiffVice President of Security Practice, Jeff Yong Xun XieSenior Market Analyst
Blockchain is on pace for wider acceptance and adoption. As more transactions and services are getting shifted to digital platforms, governments are interested in the accuracy and legitimacy in the system that can be obtained by blockchain-supported transactions. In addition, governments need to ensure the blockchain platform is scalable and compliant and supports interoperability.
"Government organizations continually struggle to enhance their operations and services efficiencies while balancing burgeoning costs as well as rising citizen expectations, especially around data protection and privacy management. A cloud-based blockchain solution may be the technological answer," shares Gerald Wang, head, IDC Asia/Pacific Public Sector. "Public sector IT deployment challenges do not exist only in technological domains; they tend to be deep-seated in multidimensional strategic outcomes attainment and traditional organizational processes. Successful government blockchain projects will most probably emerge after rigorous pilot testing prior to wide-scale production deployments, all to ensure organizational outcomes and constituent security and privacy concerns are sufficiently addressed," he adds.
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