National Blockchain strategy
Ecosis Ltd, together with Cotrugli Business School of Croatia, has developed a strategic plan for the adoption of blockchain technologies in Mauritius. The scope of the work includes an overview of blockchain technology including benefits and risks, public sector recommendations including technical specifications for e-government services, identification of private sector opportunities, competency development and training, review of the legal framework and implications, strategy and action plan.
Blockchain technology is an incorruptible digital ledger which allows recording virtually anything of value. It was originally devised for the digital currency transactions, where digital information was distributed among peers but no copied. It can be used to transfer digital information, goods and intellectual property. This emerging technology have many potential uses where fast, reliable, secure and transparent peer-to-peer access is required.
Blockchain’s potential is rooted in enabling four things. The first one, transparency: anyone with access to the network can view a history of transaction in real time. The second one is the immutability, which protect data from tampering. The reduced counterparty risk is the third one. This allows anyone to send any value to anyone without an expensive or corrupt intermediary. And the last one is the efficient provisioning of identities. In this case, blockchain can create and manage identities for underserved people in a lower cost and secure way.
Blockchain technology is used in many areas such as health, financial inclusion, energy, climate and environment, among others.