Professional services company EY has announced a new blockchain solution for governments.aimed at improving the process of managing public funds.
A solution called “OpsChain” will helpgovernments to track funds in real time. The system creates a single panel of financial information and helps governments track budgets and expenses for better financial management.
According to company representatives, the solution, created on the basis of EY’s own blockchain application, OpsChain, has already been tested internationally.
As governments around the worlddigitize financial processes, blockchain technology will have a positive impact from tax collection to opening up data for government spending, – EY said.