We've started seeing governments move beyond the 'what the heck is blockchain?' phase in the last several years. They've started to see pilot projects in practical applications, and regulatory frameworks being set up to account for the capabilities blockchain provides. This author describes an acceleration in 2020, particularly in creation of national digital currencies.
As I've discussed several times, I think U.S. governments are generally running well behind their counterparts on this topic. I think we're still in the education phase, but I'm starting to see more experimentation and attempts to pilot practical applications.
The states of Wyoming and Rhode Island have taken the lead in developing regulatory frameworks. We are definitely seeing progress, so while I don't see the acceleration in the U.S. this author describes, I think we'll continue to see forward progress and governments getting increasingly serious about exploring what is possible.
What are your thoughts and is your government organization already doing something?
We anticipate a significant uptick in the quantity of govtech engagements, particularly related to procurement and funding distribution, food and drug safety, asset tracking, and identity solutions.