Now more than ever, globally governments are facing a massive challenge in our digital world: how to use new technologies to modernise citizen and industry access to public services and programs? Currently, a lot of information about public services and information is locked into “data silos.” This means that citizens and industry are often excluded from knowing something that government already knows, and vice versa.
Different systems, different access, different knowledge.
That’s where Civic Ledger's solutions come in. We see an opportunity for governments to create trusted shared information systems for public resources like entitlements, registers, and natural assets.
It’s a two-way process. By pooling data into a shared digital ecosystem, governments empower citizens and industry to take accurate stock of existing public resources. Civic Ledger makes this happen and protects the security and privacy of all data involved.
The issuance, use, transaction and/or trade in civic entitlements through the blockchain platform is operated on the basis of a digital experience—digitising the civic entitlement to represent the underlying physical asset such as a permit, licence, or right—reducing the customer to hold a paper copy of the entitlement which can be lost or destroyed.
When digitised the civic entitlement is embedded with the business rules already determined by the issuing government agency that monitors the behaviour of those transactions. Regulators need to amend entitlements from time to time. Any amendment to an entitlement will be reflected in the token’s business rules in real time with entitlement holders also notified in real time. This allows the entitlement holder to adjust their decision-making instantly.
Governments and regulatory bodies issues entitlements to citizens and organisations for the right to do or own something. Once issued, these entitlements are entered on a registry. The registry becomes the “ledger,” which holds the history of all transactions over the life of the entitlement recording the rights, responsibilities, restrictions and interests.
Civic Ledger’s registry solution is a blockchain ledger for storing, aggregating, and managing the ownership of entitlement records from multiple sources. The registry is a trusted audit trail of key events which keeps the data private across the system. Because blockchains are decentralised, distributed systems, they can be used to design efficient, inexpensive ways for storing and recording the ownership of entitlements.
Civic Ledger offers participants the ability to claim, spend, and sometimes, trade or exchange their civic entitlements. This creates a peer-to-peer digital marketplace. Our platforms provide a host of decision support tools, including the use of artificial intelligence to monitor and regulate marketplaces.
Blockchain enabled marketplaces process transactions according to the business rules as set out by either legislation or regulation, adjust the distributed ledger to update events 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 combating fraud, increasing efficiencies and reducing costs to government operations.
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.
Our software development adheres to the standards set by the Australian Digital Transformation Agency. We are an approved and registered technology seller on the Australian government’s procurement platform, the Digital Transformation Agency Marketplace.
Civic Ledger has been actively involved with the technical committee of the emerging ISO/TC 307 on Blockchain and Distributed Ledger Technology (DLT) led by Standards Australia. The committee aims to map out the future course of standardisation in blockchain, DLT, and related areas.
Government transaction services have long relied on heavily paper-based systems that take years to build and cost tens of millions of dollars. These systems are inefficient and don’t allow citizens and industry the immediate access to government that they sometimes need in a fast-moving digital world.
To shift to trusted digital platforms which maximise transparency between citizens and governments. Blockchain builds civic trust by ensuring the privacy and security of all information contained within a digital platform.