Utilising the latest developments in cryptographic currency technology, it will be possible to manage, maintain, and govern all transactions without hard currency. For those who desire it, hard currency can still be employed and simply printed on any piece of paper or as a designed credit note from a custom atm.
Combined Wallet, ID, and Marketplace for all participants
Blockchain based cryptographic architecture will create a unique ID for all citizens tied to a sim card. Embedded within this technology it is possible to include a wide range of data that could include; personal details, biometric data, or any variable required by the client. By simply possessing a wallet on a smartphone, secure and un-hackable details can be stored replacing the need for personal identification such as passports or driving licenses.
Furthermore, this could be linked to a custom built social media platform fostering trade and commerce and between members of the platform. The amount of data, and the involvement within any social network system are variable- with the client defining the parameters of the technology.
Governments or clients will be effortlessly capable of receiving instant tax payments built into every electronic transaction. This would have two main benefits; namely, it would replace the bureaucratic burden of employing thousands of tax inspectors, and it would make tax evasion virtually impossible. All tax will be calculated real time and deducted or adjusted as necessary with every transaction.
Real Time Democracy
Nations, governments, communities and local governance will be able to connect directly with their users or citizens and determine their desires and needs in real time. This is gives greater efficiency in determining consensus and verifies that consensus faster than any method available today.
Secure and Trustworthy Voting
National voting systems could be employed at no cost with no painful counting system within an environment protected by blockchain technology from any form of fraud.Embedded within the blockchain codes will be almost unlimited data on individual and collective transactions providing clients with the data necessary to form policies on a wide range areas of serious interest to governments.
As every citizen/ member will be connected to the system, it will be possible to contact all, or specific individuals or groups directly. This would prove an invaluable communication tool for the governing body.
Large Number Data
Embedded within the blockchain codes will be almost unlimited data on individual and collective transactions providing clients with the data necessary to form policies on a wide range areas of serious interest to governments.
The End of Financial Corruption and Funded Terrorism
Within the technology it will be possible to track not only personal details, but, the entire history of any transaction ever made on the system. Every account will be connected solely to a registered individual making everything traceable, trackable and its users accountable. Algorithms would be able to flag any unusual transaction history, creating an environment where it is impossible to launder or gain money via illegal means.
Small loans could be administered and paid back automatically without the need for loan managers, banks, or human interference. Loan repayments would simply be automatically repaid at a pre-agreed rate and time frame.
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