The global nature of digital currencies makes following international news beneficial for investors and interested market participants. However, due to how fast news travels through the landscape, it can be easy to miss the occasional story now and again.As part of our regular weekly roundup, Coinsquare News covered this weeks significant international cryptocurrency and blockchain headlines. In this edition, we look at three ways that governments around the world set out to leverage blockchain technology this week.
As ZDNet reported this week, the state government of New South Wales (NSW), Australia is setting out to use blockchain technology as a means of improving property conveyancing.
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Reportedly, the New South Wales Land Registry Services is set to conduct a proof of concept in collaboration with ChromaWay; a blockchain technology company based in Sweden. This proof of concept will leverage the startup's open source technology in an effort to make property registration both cheaper and more secure.It is expected that the proof of concept will be complete towards the beginning of 2019. Further, the NSW government reportedly stated that the process of land registration must be completely electronic by the beginning of the financial year in July. As a result of this state government initiative, all notable property transactions will be required to be lodged electronically, with previous methods being phased out altogether. "Rapid and far-reaching technology change is impacting traditional approaches to land dealings registration and general business operations around the globe, said Land Registry Services CEO Adam Bennett. NSW Land Registry Services is embracing this new world by conducting a series of targeted experiments with globally-recognised technology companies.
In news from Brazil this week, a presidential candidate published his government plan by leveraging blockchain technology. Fernando Haddad is a candidate representing the Brazil Workers Party and previously served as the Mayor of So Paulo. The announcement arrived courtesy of an official post (note: link is in Portuguese) on the candidates website.According to Haddad, the decision to leverage blockchain as a means of publishing his government plan was due to the tamper-proof nature of the technology. In the publication, it is claimed that Haddads previous proposals were maliciously modified in order to persuade voters.Further, the post states that the medias attempt to disprove false claims against him has not been effective enough. As a result, Haddad is now using blockchain technology in order to combat the existence of manipulated news stories surrounding his candidacy. This reflects an overall feature that proponents often praise about blockchain technology. Its advocates believe that it has the ability to serve as an immutable ledger, as many implementations of the technology are able to ensure the validity of recorded information. Further, its status as a public ledger allows for both internal and external methods of identifying when information has been altered.Seizing the benefits of this technology, Haddads post claims that his government plan was published through the use of computer-distributed records around the world.
In yet another piece of news surrounding governmental blockchain adoption this week, a Kenyan news outlet reported that the country will use blockchain technology to manage its housing initiative. According to The Star, Kenyas government plans to use blockchain technology in order to deal with the allocation and funds management of affordable homes. This arrives as part of an initiative financed by the countrys National Housing Fund, and will use blockchain technology to manage 500,000 housing units. Kenya will use blockchain technology to ensure the rightful owners live in government funded housing projects, said Housing and Urban Development Principal Secretary, Charles Hinga, in a statement reported by The Star. Reportedly, the countrys initiative to create affordable housing hopes to build half a million homes in order to assist the countrys less fortunate. As with both other international stories this week, the initiative reflects the growing use of blockchain technology for government purposes around the world.Image credit: Wikimedia Commons
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