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Pablo Soria de Lachica Comments on Growing Ethereum Support by Governments Worldwide

The appeal of blockchain technology extends beyond cryptocurrency. Currently, it is being explored by governments around the world for applications ranging from e-residency to Internet of Things devices. Increased efficiency and security are the major reasons national administrations are considering the integration of blockchain technology in their operations, says Pablo Soria de Lachica. The distributed ledger is a digital record of transactions that is spread across peer-to-peer networks. Attempting to create unrealistic records is very difficult, since each “block” in the chain is encrypted. Also, because the blockchain is not found in a single location, it is nearly impossible to alter every single record on the ledger. If applied, citizens’ identities and transactions with the state will need less checks to ensure accuracy and security. The US Food and Drug Administration recently issued a formal notice to obtain information on the blockchain’s application for exchanging patient-level medical data in the United States Critical Illness and Injury Trails…