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Tim Draper Envisions Blockchain Solution to Government Efficiency Woes

Bitcoin bull and renowned financial investor Tim Draper laid out his vision for a blockchain-based solution to government efficiency problems at the GovTech Pioneers conference in Vienna, Austria on Wednesday.

As reported by Cointelegraph, Draper’s opening speech presented a plan for future political governance, consisting of a shift to the use of blockchain technology that would employ smart contracts and artificial intelligence (AI). He predicted that this combination would be capable of providing ”the perfect bureaucracy”.

Blockchain, AI, and healthcare

“The services provided by the insurance, healthcare, and real estate industries are very bad and require a lot of money. The government that burned a lot of money for the worst service first felt this,” Draper said, outlining the reasoning behind the need for a change in governmental operations.

He emphasized his points with a specific focus on healthcare, outlining the future as decentralized, with patient’s data accessible to them on blockchain. An automated system would utilize AI technology to consistently review the data, sending warnings and advice to individuals at risk.

Draper is not the only person who sees blockchain as a superior solution; several blockchain-backed healthcare projects do already exist, praised for the immutable patient records they can provide.

Hashed Health is a project that works to solve healthcare business problems, while IRIS is a start-up company looking to provide people with a decentralized healthcare record.

Of course, setting up a blockchain project in a country to cover every citizen would be a much larger feat than any of these companies have achieved so far. The cases do prove, however, Draper’s vision is not as unattainable as some may initially think.

Blockchain and voting

As recently reported by Forbes, voting is another area of government inefficiency that could benefit from a blockchain alternative. As demonstrated in previous US elections, the current voting procedure leaves much to be desired.

To illustrate this point, in one case in the state of Virginia, an apparent electoral tie led to the decision of a candidate being chosen by drawing a name from a hat. Another instance is the inefficiency of voting in person, leading to low voter turnout. In the 2016 US presidential election, an estimated 55.7% of eligible voters cast a ballot.

Blockchain voting would mean it would be virtually impossible to hack and could potentially be done at home while verifying the identity of the voter, reducing electoral fraud.

Draper did not illustrate the issue of blockchain voting in his GovTech Pioneers talk, but by highlighting the point of blockchain efficiency in regards to government operations, his speech was invaluable in the technology being recognized further in the field.

 

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