This week, VentureBeat mentioned Neocapita’s innovative e-government digital registry platform, Stoneblock. The article by Michael Casey, MIT Media Lab’s “Digital Currency Initiative” and best known for the book he co-authored: The Age of Cryptocurrency: How Bitcoin and the Blockchain are Challenging the Global Economic Order, explained one of Stoneblock’s applications to track cross-border payments of foreign aid to improve government accountability.
Improving accountability will help some these countries secure more aid and a lot is at stake. Afghanistan’s aid budget between 2001 and 2015 was over US$60 billion (and that figure excludes security and military aid over the period). Armenia is considering the use of Stoneblock for 7 possible use cases: mobile phone-hosted national identity, business licensing, civil status certificates tax payments and civil endowments; to name just the first cases likely to go ahead. Papua New Guinea is exploring how to move all central bank payments onto the blockchain.