Today, governments find themselves in a challenging environment. Faced with tight funding constraints they are expected to do more with less.
Citizens exposed to highly efficient and engaging consumer products have high expectations when it comes to the delivery of services and processing of transactions. The opportunity is for government to enable a future where the delivery of government services is more personal, immediate and efficient.
In a globalised world, governments need to be competitive by promoting economic activity, supporting Small to Medium Enterprises (SMEs), increasing employment, and developing capacity for future productivity.
To overcome these challenges, modern governments are engaging industry. By leveraging private industry partnerships, governments can amplify the effect of their investment.
Imagine hundreds of start-ups and industry plugging into government platforms to extend and improve service delivery. Enabling the development of innovative offerings to citizens that government on its own would not be able to provide.
For this vision to be feasible, it requires government to have a high degree of interoperability while protecting security and privacy of data — which is very challenging.
The issuance, use, transaction and / or trade in civic entitlements through the blockchain enabled platform are operated on the basis of a digital token representing the underlying physical asset – an entitlement such as a permit, license or right. Each token is embedded with a significant proportion of the business rules and trading rules pre-determined by the issuing government agency that govern the behaviour of those transactions. All entitlement holders are issued with tokens representing their respective entitlements, including the ability to receive entitlements, consume and if permitted, trade or exchange any residual value.
The entitlement is stored in an application called a digital wallet, typically an application on a smartphone or tablet computer. The digital wallet is used to trade through the platform. Regulators amend entitlements from time to time. Any amendment to entitlements will be reflected in the token's business rules in real time with entitlement holders also notified in real time of any amendment.
Worldwide, governments and regulatory bodies issue entitlements to its citizens and organisations for the right to do something or own something. These entitlements, once issues, are recorded on a Registry to verify who has what and who can do what and when.
The Civic Ledger’s registry is a blockchain enabled registry recording the ownership of entitlements or benefits with the advantage of digitally maintaining and tracking the ownership and transactions of such entitlements. In this way, government agencies do not need to upload the same data into their own database and can digitally track the lifecycle of a certain certificate or license through its supply chain without losing visibility of transactions.
Civic Ledger’s marketplaces offer participants the ability to engage in the claiming of their right, consumption of their entitlement and if permitted, the trading or licensing of their digital asset through a platform secured by blockchain technologies. The platform provides decision support tools, including artificial intelligence to match sell and buy orders. The exchange will process transactions, adjust the distributed ledger and issue reports to stakeholders, including participants, government registers, regulators, all other interested parties. These reports update government registers with transaction details in near real time.
Blockchain-based transactions differ from traditional database transactions in two key ways. First, the medium of exchange is represented by a digital token. For convenience, a unique identifier is represented as a 2D barcode / QR code. Second, the participant’s transactions are digitally signed by a secure device.
Civic Ledger adopts a partnership approach with its customers to co-create solutions to real business problems and to guide them incrementally through their blockchain, smart contract and emerging technology journey.
It is from our experience that we maintain that the best way to develop solutions to problems where emerging technology has advantages, is to use it in practice. By encouraging our customers not to get caught up in the immaturity of the technology, we have found that it is through experimentation which will likely lead to the discovery of new opportunities to design new business models and form alliances across industries, government and other jurisdictions.
We deliver a phased and agile approach to software development and adheres to the standards set by the Australian Digital Transformation Agency. We are an approved registered technology seller on the Australian Government's procurement platform: the Digital Transformation Agency Marketplace.
Government transaction services are a substantial area of interaction and engagement between citizens and the public sector. As such, the efficiency of these services delivery is directly related to the level of citizens’ satisfactions with government bodies and governments around the world are continuously trying to find ways to improve their services delivery while cut costs down at the same time.
Governments need to shift away from building systems over 3-5 years that cost tens of millions of dollars and replace “heavily paper-based” systems that have “limited self-serve options”. The solution is to shift to digital platforms providing a single data market-place for government and private sector to build a data economy and maximising transparency, privacy and security to create civic trust.