Right now, it is used in many industries ranging from business, healthcare, finance, down to manufacturing, supply chain and of course the government.
To put it briefly, blockchain is a new kind of encrypted database that is decentralized, distributed, and unassailable. It creates a digital record that is amazingly secure and is easily accessible to the public.
Today, as nations advance with assistance of technology, smart cities around the world are using blockchain as the foundation to enhance urban living. We have news coming from Dubai aiming to be the first blockchain powered government by 2020, Japan has already recognised Bitcoins as a mode of payment, Moscow became one of the first cities in the world to use blockchain in their voting system to eliminate corruption and voter fraud and etc. The list goes on.
Moving ahead, with licensing and endorsement support of a blockchain & cryptocurrency friendly government of Timor Leste, Invech intends to build Timor Leste to be the next Blockchain Smart City of the world.
In an ideal blockchain city, there is digital government infrastructure, secure digital identities and secure control over all data. Invech is able to provide blockchain services for the government consisting of all the said technologies, creating a digital government with digital infrastructure and safe data control. Allowing control over own data, big data analytics and providing greater opportunities. All these are possible with the blockchain.