Hello, in this lesson we are going to talk about how blockchain can be used in governance. This is one of the hottest use case topics that people are concerned with. When it comes to blockchain. We've obviously covered crypto currencies, which can help replace or add to the current currency system. So feel free to check out all those lessons. So this is going to be less based around a particular sort of like specific currency, there are going to be currency based topics discussed in this lesson as well.

So one of the things that you could do is manage manage government assets, using a really good audit trail. And if there are certain government assets that the public should know about, maybe it's to do with the amount of See, like factories they have there are for, let's say, making roads and making other transport. That's something that the public generally should know about. It could be put onto a public ledger. So that is one of the use cases. Another really big use case one of the most exciting ones for this video is taxes.

And I know tax It is one of those topics that everyone that Oh yeah, I absolutely hate taxes. But again, try and have an impartial mind because when taxes are done well, they can benefit everyone because he allows you to have access to facilities such as healthcare in country like Canada and UK allows you to well use roads because at the end of the day, the roads that the government builds the building it using tax money. So with that money there to build roads provided Certain public transport and various other elements as well. So all of this all of these aspects that we enjoy of modern society, regardless of what country you're really in his journey paid for by tax collection. So it is definitely an important part of society. It will allow you to accurately track income for whether it's an individual or a company, it doesn't really matter.

So you can see where the money's going, during what period exactly when it was paid. And this will help you automate auto mate taxes. I know some people, especially people that are tax evaders, and even tax avoiders. This is something that they aren't particularly happy with. Because if a lot of it can be automated, then you can Reduce tax evasion and to an extent tax avoidance because at the end of the day evasion is illegal. And avoidance is legal it may not be completely ethical or moral depending on who's doing it but and, and how much they're avoiding in terms of taxes, but it is legal.

This can also lead to a reduction and fraud, whether it's VAT or corporation tax or some other variety of tax because at the end, if you're accurately tracking it, every step of the way, is gonna really help reduce fraud especially if it's all digital. And you need a bunch of different nodes to verify a particular transaction and also verify the currency itself. Your how prevent not just fraudulent transactions, but actually fake money can This is one of the big things that blockchain can help reduce in probably every implementation every UK use case is reduce cost of ministration. Administration and on the government as a whole, so administration equate for a lot of the costs in various sectors of modern society outside of government. And if you can automate a lot of it, do it more accurately provide an audit trail, then you can reduce the cost of administration and ultimately reduce the cost that comes along with well fixing the problems that sometimes occur, because he hasn't been properly implemented.

You can it improves. Let me write that again. In Prove transparency, because you can have this transparency wrong but you know what I mean? transparency because it basically can help ensure entities with lots of money are paying taxes correctly, because they can see where the money is going. And again during which period of time and this can be break broken down to the last penny, or whatever, you know system you're using, wherever you're calling it. Another big use case for governance where blockchain is voting.

Voting by many is considered an amazing system. But a heavily flawed system, especially when it comes to electronic voting. The problem is a lot of the electronic voting machines are centralized. So using blockchain, you could D. Know what happened to that that D and true central noise. Current voting devices. Current voting devices, you might need to implement new one but the overall sort of the philosophy of the voting devices the way they generally work from a user perspective, that remains same but they could be D centralized and they could be easily reused as well.

And this could help lead to an open source implementation and this will help in show it Don't need the word ensure trustworthy enough, ensure that it is trustworthy, you will help ensure its security. Because developers can see the sort of encryption they've got the way data is being transferred and stored to make sure it is secure. And allow community to develop for it, or develop it and update it. When I say the community. I mean, you know, developers, people that know what they're doing, who need out, say, some sort of consortium or committee to verify and validate any update and changes. But it can really help accelerate updates if a lot more developers can access especially developers with different mindsets and now tied to any one party or legions.

This is a more true demo cratic system because ultimately that is one of the main things around cryptocurrency and blockchain it is that that it is a more democratic system. Another thing is many devices send results over the internet using little to no encryption which bad so that ties in with the security aspect can help ensure that is properly and corrected and local that is very, very fundamental. It can help ensure the validity, the validity of a voter, especially if we are tracking the voter and we have a separate blockchain Implementation to be able to basically provide a unique identification to them. So instead of having something like a driver's license or a passport as ID, we have a blockchain network. And from there, we get their uniqueness. And that is linked within to the voting system, within the tax system and other aspects as well.

And we can help ensure that people that shouldn't be voting, maybe you're a criminal, and you know, allowed to vote, then it can help ensure that does properly get handled automatically as well. And that's the beauty of it, the more automated it is, and the less human interaction is required, the less cost that He has for the taxpayers and those taxes can be used to build more roads, hospitals, schools, and all the other really cool stuff that people really want to say. Even though they need these to help build those Systems it has a better automated tally system, especially compared to physical based system, you can easily access results of the past accurate live data so soon as somebody votes that could be tallied up accurately and you could see live to the letter how well a particular candidate or party is doing. And this could also lead to this is a very controversial topic lead to vote in at home.

This obviously has its own problems But I find the problems that he has are generally linked to a more electronic home based voting system, and less to do with the blockchain implementation of it. But I think he could really help. Due to extra encryption, extra validity and just the open, decentralized nature of it. We could be voting at home within our lifetimes. So this has been an awesome lesson on covering the use cases of blockchain in governance. If you have any questions, feel free to reach out, we covered a variety of topics in terms of governance implementations, so feel free to check out the video again.

And as usual, thank you for watching, and I look forward to seeing you in my next lesson.