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09 July 2020

5 Reasons Governments Should Embrace Blockchain Technology

5 Reasons Governments Should Embrace Blockchain Technology

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Over the past number of years, the perceived potential of blockchain technology has been slowly decoupled from the volatility of the crypto market, with household name companies endorsing the technology and exploring Distributed Ledger Technology (DLT) applications.

European countries have been driving forward regulation and innovation within the blockchain space with countries such as France, Switzerland, and Gibraltar leading the charge.

Government-led support like this can send positive signals around the technology’s long term viability, and encourage educational institutions to dedicate resources to crafting bespoke blockchain courses.

This can help ensure that prospective blockchain projects have a conveyor belt of talented blockchain-literate professionals to build their companies in the years ahead.

Similarly in the US, a number of top-tier universities have developed tailored blockchain courses, including New York University, and the University of California, Los Angeles (UCLA).

Governments that recognize the potential of blockchain technology can lay the foundation for a spike in employment opportunities for citizens in an exciting new sector.

Taking an active role and encouraging the growth of the DLT sector offers governments the opportunity to set the guard rails and allow blockchain technology to play a crucial part in business and society.

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