I'm going to focus this week on what governments outside the U.S. are doing with blockchain technology. Why? Because U.S. governments are currently lagging behind many non-U.S. governments. There are pockets of experimentation in the U.S., but they are not widespread nor all that coordinated. Other nations are making a much greater investment in experimenting and evaluating results. So, we have to pay attention to their work and learn as much as we can from a distance with their experimentation.
Emerging nations (in this article, China, Malta, Venezuela, British Virgin Islands) often focus on how they can use blockchain technology to improve their economic status. Basically, they are looking to cut out the middleman in many financial transactions (since much of that money goes to banks and others outside of their country). Hence, the theme tends to be on cryptocurrency and fintech applications. The reference I find most interesting here is that the Virgin Islands is looking to mobilize funds to respond quickly when the next natural disaster strikes, so they are less dependent on funding from outside their borders. THAT is an empowering idea, if they can pull it off. Stay tuned . . .
". . . as modern society transitions to a global, digital economy, blockchain represents a key tool for third-world and developing economies to transition to digital in pace with established and first-world counterparts. This benefit is particularly impactful to areas currently dominated by fiat that are hindered by an inadequate or nonexistent banking infrastructure."