THE HEAD OF OVERSTOCK: “BLOCKCHAIN TECHNOLOGY CAN IMPROVE GOVERNMENT SERVICES”

The founder and head of the retail giant Overstock.com Patrick M. Byrne expressed the opinion that the blockchain can make government services “super-efficient and eliminate the possibility of bribery.”

In an interview with the MarketWatch portal, Byrne said that the time has come when it is time to fundamentally change the structure of government services, and the use of distributed registry technology, in his opinion, will be the best solution.

“The establishment of the “government-as-service”, that is, the set of applications and companies, as well as the use of the blockchain for the provision of government services will make them super-efficient, inexpensive to maintain and inaccessible to bribery,” – said the head of the Overstock.com.

He explained:

“For example, we can come to Venezuela with six laptops and create not only an active community, but also one of the most advanced government systems. We can set up a Central Bank in a laptop. All citizens download the free app and now we have the most advanced monetary system in the world.”

Byrne also said that in the near future he expects contracts with several sovereign states, in which he plans to radically change government services.

In addition, in January it became known that Overstock was the first company in Ohio to pay taxes in bitcoins.