Can blockchain provide greater transparency to the traditional public finance system to reduce fraud?
In addition to helping reduce the risk of theft from invoice fraud — allowing users to send payments with “the click of a button” rather than providing personal information — the think tank reported that with the system set up for a central bank digital currency, “the government’s financial position” could be made clear. A system updated using blockchain could provide transparency for government spending.
“While a digital currency would mesh well with this kind of system, it is certainly not a necessity,” said the report. “Many of the benefits can be achieved without changing payments rails, simply by improving the [public finance management] architecture. Governments would also be more effective at efficiently managing their cash and forecasting their future cash position.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hundreds Of Students In Virginia Hosted A Walkout Over New Anti-Trans School Policies“I don’t know what these policies are going to mean for the people I love and for myself.'
Read more »
First trans-focused LGBTQ plus safe haven coming to PhiladelphiaPhiladelphia's first trans-focused LGBTQ shelter will be opening at the beginning of October.
Read more »
Great Salt Lake Collaborative - History of Great Salt Lake: A Great Salt Lake Collaborative ConversationHistory of Great Salt Lake: A Great Salt Lake Collaborative Conversation September 28, 2022 06:00 pm - 07:00 pm Join Great Salt Lake Collaborative to learn about the cultural history of Great Salt Lake. How has...
Read more »
Peskin apologizes for comments about trans candidateMahogany told The Examiner on Monday that Peskin's comments were 'not a big deal' to her but that she was glad Peskin apologized. “Ultimately I've actually dealt with far worse things — being on RuPaul's Drag Race, for example.”
Read more »
'Trans Rights Are Human Rights': NoVa Students Join Statewide Walkout Over Youngkin's School PolicyGov. Youngkin's proposed school policy targeting trans youth is receiving significant pushback. Students at roughly 100 schools across Virginia walked out of class in protest Tuesday.
Read more »
Thousands of Virginia Students Are Walking Out for Trans RightsNearly 100 schools were named on the Virginia-based Pride Liberation Project’s public list of participating schools.
Read more »