Nine in Ten Governments Investing in Blockchain by 2018 Says IBM Study

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According to a recent IBM Blockchain research report titled Building trust in government – Exploring the potential of Blockchains, government organizations across the globe are exploring use cases for Blockchains that can impact their jurisdictions.

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With the support of the Economist Intelligence Unit, the IBM Institute for Business Value surveyed 200 government leaders in 16 countries on their experiences and expectations with Blockchains.

IBM’s research revealed that government organizations are looking at how Blockchain technology can positively impact operations in a number of areas.

For example, nine in ten government organizations plan to invest in Blockchain for use in financial transaction management, asset management, contract management and regulatory compliance by 2018.

And seven in ten government executives predict Blockchain will significantly disrupt the area of contract management, which is often the intersection of the public and private sectors. While virtually all government organizations surveyed intend to invest in Blockchain by 2018, IBM discovered a small group of pioneers that are setting a fast pace and new direction with Blockchains today.IBMCHART

These Trailblazers, 14 per cent of the survey, expect to have Blockchains in production and at scale in 2017. They are prioritizing Blockchain to help reduce innovation roadblocks and inaccurate or incomplete information across their organizations.

Trailblazers are focusing on Blockchains to help reduce time, cost and risk in four areas:

  1. Regulatory compliance
  2. Contract management
  3. Identity management
  4. Citizen services.

Additionally, they expect Blockchain technology will enable new business models, particularly in contract management, financial transaction management and identity management.

The findings reveal that Blockchain adoption is accelerating faster than originally anticipated, with government executives identifying key areas and benefits to explore. In this report, IBM shares key insights on market adoption of Blockchain solutions and also explore what differentiates early adopters – the Trailblazers – and how other government organizations can benefit from their Blockchain explorations.

 

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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