Few governments have been encouraged to bet on the application of Blockchain technology or blockchain that is within the category of emerging technologies, being that they are called emerging technologies are tools that, in 5 or 10 years, can cause a great business revolution. That is, they are the innovations that will change the way we operate in the market. However, they are not yet well established or have not been sufficiently developed.
In that sense we are happy to share with you the following, we started a development project last year that today is a reality, the European Union is greatly enhancing the strengthening of relations between governments and citizens through the use of Blockchain technology and specifically, the Belgian government launched an initiative called: NextDe formed by ILVO, IdPlizz, and Changetheblock.
Through this initiative a platform was developed where information is easily managed in a transparent and fair way within the DjusConnect platform, through two different approaches:
1. Through the use of artificial intelligence technology and biometric recognition from IdPlizz in DjustConnect, the platform has a seamless login method. By implementing this feature, we ensure that farmers know who is using their information.
2. By implementing Smart Contracts in DjustConnect, we create an electronic auction system and automate data exchanges. This provides the platform with an autonomous governance system and increases transparency, as the price of data exchange between data providers and data consumers is open and automatically managed through Smart Contracts.
This system provides data providers/data consumers with governance mechanisms, as these smart contracts could be legally binding as is already the case in our Insurechain platform. There is no middleman in the data exchange and once a smart contract is signed, no one will be able to forge it. The electronic auction system helps farmers answer their questions about the price/value of data.
By implementing these two features in the DjustConnect platform, we address the management challenges and help farmers trust the system, this being an example of how blockchain technology can favor even actors and sectors that are usually more vulnerable within EU countries technologies such as farmers.
The great news is that the project has already been completed and delivered. The development will open up a new data marketplace for farmers and agribusiness, ensuring them a fair marketplace with no governance intermediation and also enabling the next generation of P2P-Data Economy.
We invite you to review more details about it and its applications here:
Also if you want to develop projects that apply Blockchain technology for the legal, financial, insurance, and government sectors do not hesitate to contact us and we will be happy to collaborate with you.