Blockchain
The Impact of Cryptocurrency Adoption on Government
Cryptocurrency use is growing exponentially, and governments may want to consider the benefits. Why are blockchain and cryptocurrency so popular right now? Why have business whales and finance execs invested large cash reserves into cryptocurrency? They hope to benefit from this colossal opportunity. Visual Capitalist, in an April 2021 article, remarks that Bitcoin, compared to other tech companies, is the fastest asset to reach a $1 Trillion market cap.
In March of 2020, Bitcoin’s price was coming in at around $3K. As of May 11, 2021, Bitcoin was $56,551.44. Per coin. And Bitcoin is only one of over 4,000 cryptocurrencies according to Investopedia in a January 2021 article. This growing trend presents a new challenge for governments.
Cryptocurrency sits on top of a technology called blockchain. Blockchain is a database network that supports the transfer of value in a digital format. It is an independent system not owned by any institution, individual, bank, or entity, (read, government). As more cash moves into this crypto arena, governments will lose visibility and control of their national currency. How will that affect them?
The Government Blockchain Association, (GBA)?s Tax Working Group has written a Whitepaper entitled, ‘The Impact of Cryptocurrency Adoption on Government’. This 138-page document is the result of a full year’s worth of research and analysis, done by a team of authors with expertise in tax risk analysis, data, research analytics, cryptocurrency, digital assets, business, and blockchain. This report was not financed by any major corporation or interest group. The authors were all volunteers and were not influenced by a sponsor?s desired outcome. This paper was written to find an answer to a question.
How will this monumental transfer of fiat money into cryptocurrency affect governments and their citizens? Be assured, it will affect them, and the governments that understand this change can better prepare for what is coming.
The Impact of Cryptocurrency Adoption on Government whitepaper is available for download purchase.
Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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