Blockchain

Russian central bank proposes a ban on cryptocurrency use. Regulator warns of risks to financial stability. Analysts say the wider impact is negligible for now. Ban on cryptocurrency exchanges also proposed

South African banks are looking to increase their investments in blockchain and distributed ledger technologies this year.

RNS is the world’s first sovereign-backed blockchain-native digital residency platform. RNS is an identity protocol that grants global citizens digital residency in the Republic of Palau.

TAG TrustNet uses Distributed Ledger Technology (DLT) to create a decentralised digital database for digital advertising.

Minister of Communication and Digital Economy Isa Pantami said that the federal government is planning to use blockchain for government business by 2030.

India’s Ministry of Commerce and Industry developed the SLDE platform for transferring documents using blockchain-based security protocols.

The Central Bank of Mexico (Banxico) plans to launch a central bank digital currency (CBDC) by 2024, the Mexican government confirmed in a tweet.

Though e-GP systems have contributed to enhanced efficiency and transparency in government procurement, there is potential for further advancement of the existing systems. 

The collaboration positions Zanzibar as a blockchain leader by developing a tech research and development centre, as well as a hub for events and conferences. 

Blockchain is a disrupting technology that can transform ICT and revolutionise e-governance. It can modernise and digitise administrative procedures and enhance the transparency and efficiency of governance. Blockchain-based solutions, such as automated auctions, smart contracts, and decentralised autonomous organisations can turn out as decisive steps towards decentralisation. However, Blockchain technology needs proper legal frameworks. Governments will need to gain a detailed understanding of the Blockchain design principles.