Blockchain For Better Public Services
Creating a new bonds platform for the Ministry of Economy
During eight weeks, we worked with the Commercial Unit of the Mexican Ministry of Economy, the British Embassy and Oxford Insights to inform the development of a RUCAM 2.0 platform that would integrate technology into its transaction bonds.
We will be presenting the use case and recommendations in different forums to strengthen our analysis with feedback from blockchain communities of practice. The lessons-learned through this project will enable us to share best practices about the use of blockchain to improve other public services.
From January 2018 to March 2018
WHY THIS MATTERS
Distributed ledger technology (DLT) is transforming the world economy and holds promise to also transform public services. The technology behind bitcoin, an open-source distributed database using cutting-edge cryptography, has the power to facilitate collaborations, as well as to trace and legitimize transactions and general interactions. Its focus on efficiency, transparency, reliability, and trust has attracted the curiosity of governments across the world. DLTs provides us with the opportunity to rethink the provision of digital services to render processes more seamless.
WHAT WE ARE DOING ABOUT IT
Together with our partners, we are working with the Commercial Regulation Unit of the Mexican Ministry of Economy to inform the development of a RUCAM 2.0 platform that integrates blockchain technology into its transaction bonds operations.
During eight weeks, we attended several meetings, workshops, visited a warehouse, and had thoughtful discussions with the Blockchain Advisory Council of the President’s Office on the advantages and drawbacks of different types of DLTs applied to a range of public services. We developed a feasibility analysis that provides an overview of the current status of the RUCAM system, a comparative of DLT technologies and their implications in relation to RUCAM, and provide policy and technology recommendations to move forward with the modernization of the platform and creation of digital bonds.
OUR MOONSHOT VISION
We want to contribute to the creation of a government that is 100% transparent, agile and able to respond to citizen’s needs in the digital era. One way we can work towards that is by enabling more efficient public services through the use of new technologies such as blockchain.