Possibilities of using the Free TON blockchain in governmental spheres of activity

[KotOks 5]

The use of blockchain in official government processes has been growing in many countries over the past few years. I suggest looking at the positive aspects of its integration into such major areas of activity.

 

Digital court based on blockchain

It is no secret that in courts of law decisions can be influenced by various factors, such as human (error of interpretation of an article of law, pity, revenge, greed, knowledge, experience, etc.), time (set time for consideration of cases), workload (the number of cases per judge).

With a blockchain-based digital court, all of these negatives are offset. But Artificial Intelligence, Cloud Computing and Big Data must be integrated with blockchain to help legal decision-making. By combining these technologies, court systems will be able to conduct their procedures more conveniently and, in addition, more cheaply.

Given that Free TON is a high-throughput blockchain platform that can handle millions of transactions per second, its use in the judicial branch of the government would do an excellent job of making correct and quick decisions in numerous types of lawsuits.

Likewise, Free TON, due to its scalability (dynamic sharding), can easily handle digital data submitted as evidence, which relevant parties can collect and store via blockchain with digital signatures, proper timestamps and hash value verification. Digital (electronic) evidence is now taken into account by courts in almost every country.

Blockchain is well suited for maintaining and preserving records of parties' participation in legal proceedings. Security of Free TON blockchain use is confirmed by fully open source code and achieved decentralization of the network through the use of self-sufficient smart contracts, as well as a large number of validators (more than 400), which are located in different parts of the world. In the specifics of decentralization, smart contracts and validators we will not go into depth, because it has been described many times before.

For example, in China alone, more than 3 million court cases were settled using blockchain in 2019.

Of course, blockchain cannot replace all court cases. But lawsuits related to sales, contracts, auctions, and other civil cases could be resolved by a digital court and violators could be held liable for evading legal obligations.

 

Voting using blockchain

One important government process is voting. South Korea experimented with blockchain voting back in 2018, Russia in 2019, several states in the U.S. are working on this implementation, and West Virginia, Denver, and Utah were the first states to allow blockchain-based voting.

This topic has been published by some members of the Free TON community, so I'll add just a few points that I think are important.

With its undeniable qualities described above, Free TON can help with voter authentication and result retention, while the added transparency and security will dispel fears of fraud and hacking. Election results, where votes can be entered via mobile devices and personal computers, will be available for viewing as the data is included in the blockchain (without error or time delays for the counting of votes by human).

Although many academics see the use of blockchain in voting only along with the use of Artificial Intelligence, the Internet of Things and Big Data.

 

Using blockchain in Business and Finance

Many countries around the world are now in the process of transitioning to the basic principles of the digital economy. The development of the financial sector is accelerating globalization and making transactions faster, more efficient and secure. One of the main acceleration factors in the innovative development of the financial sector is blockchain technology.

The main prerequisites for the introduction of blockchain technology are the weaknesses of the current financial system. Thise weaknesses include high dependence on intermediaries, relatively high transaction costs, and risks of hacking and attacks by hackers. Blockchain has in some ways become a solution to most of the problematic aspects. The technology has created a global ecosystem that guarantees the security of transactions and, if necessary, their anonymity.

Principles of the Free TON blockchain in the financial sector:

1. No intermediaries.

Instead of using third parties for transactions, Free TON uses a special consensus protocol, as well as various algorithms of self-sufficient smart contracts. Thus, the problem of increasing the speed of transactions and the frequency of information exchange is solved.

2. New data analytics with a high degree of confidentiality and protection.

Free TON technology allows counterparties to exchange information on transactions and all necessary data automatically with the possibility of end-to-end encryption for complete anonymity. In this regard, the problem of possible errors, as well as intentional fraud on one of the parties is solved.

3. The fight against hacking.

Decentralization and distribution of data over scalable Free TON blockchain blocks, as well as additional degrees of protection through cryptographic encryption, increase the level of transaction security and make the financial system less vulnerable.

4. Cheaper transactions.

High fees of standard payment systems (as well as other blockchains) can be significantly reduced by conducting transactions in the Free TON network. The cost of such blockchain transactions is very low and at the time of writing is less than the equivalent of $0.01. This, in turn, enables businesses to generate more revenue.

5. Payment systems with digital currency.

Free TON blockchain will allow more efficient circulation of its TON Crystal coin. And with the help of bridges with other blockchains – it will also allow efficient introduction of other tokens, coins and digital currencies backed by fiat money. This solves the problem of simplifying the mutual settlement of counterparties, banks and improves cross-border interaction.

 

In conclusion, I would like to add that the big plus of integrating Free TON with technologies such as Artificial Intelligence, Cloud Computing, Internet of Things and Big Data would be an additional huge boost to the implementation of ideas of developers and the entire IT-industry, which would have a positive impact on various areas of government systems.

[Mella 3680]

I have to say there is a lot of TON discussions recently and it makes me give more attention to this cryptocurrency. I have some knowledge in it but now that I started reading this post and more, I learn a lot. It is very interesting and is one of the most recognized today from the new cryptos we have in the market. I hope it succeeds because it seems there is a lot of infrastructure and a huge community that is very important for adoption.

[Whited35 15285]

Best article about the Free TON blockchain network and its crucial use case in the government's sectors. The beauty of Free TON blockchain network is, it has the advanced dynamic sharding features to process very large amounts of data. Throughput efficiency, low latency and the reduced costs are the best beauty from the Free TON blockchain  and these sort of features are desirable in the government's sectors.