Overstock CEO: Blockchain Can Make Government "Incapable of Being Bribed”

in #blockchain5 years ago (edited)

Overstock CEO and founder of the tZero security-token trading platform, Patrick Byrne, says that blockchain technology can put in place total government overhauls and even make it incapable of being bribed.

Speaking to Marketwatch, Byrne explained that he is taking on the focus of creating government-as-a-service applications and companies that'll bring a much-needed shake-up to the functionality of governments around the world.

“I am focusing on the idea of building government-as-a-service, a set of applications and companies that, between them, can bring blockchain to different services that governments provide,” Byrne said. “It will make government superefficient, inexpensive and incapable of being bribed.”

Byrne's vision has already become a reality in the South-African nation of Zambia where Overstock subsidiary Medici Ventures is providing a land-governance service that has titled some 50,000 homes.

“We anticipate doing the whole country,” the Overstock CEO stated. “We are building a platform where everyone can interact with the government paperlessly.”

Venezuela is also ripe for a blockchain driven overhaul, according to Byrne. As the country suffers from the consequences of a failed socialist government, an accommodative central bank, and foreign sanctions - all problems that at face value seem every complex - blockchain could step in and make rather simple fixes.

We could step into Venezuela with six laptops and create not only a functioning society but arguably one with the most advanced government systems in the world,” he said. “We could bring them a central bank on the laptop. Everyone in Venezuela downloads a free app, and suddenly you have the most advanced monetary system on the planet.”

The CEO told Market Watch that he expects to have a contract with more than one sovereign nation “very soon” to begin a broad government-services overhaul.

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Greetings @aferrell

Patrick Byrne proposes a very hopeful solution to the governmental system, I would very much like to see it implemented, especially in Venezuela right now.

We could step into Venezuela with six laptops and create not only a functioning society but arguably one with the most advanced government systems in the world

This is something so simple that it would seem to be a lie, but it is something that many would like to see, thank you for sharing this information.

Enjoy your day, Piotr.

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