Electronic Government as a Service Now in Beta Testing Phase
Electronic Government as a Service or ‘eGaaS’, has announced it has entered beta testing. An international blockchain platform for organizing economic, state and social activities for citizens and their communities based on smart law and smart contracts, the platform is designed to make the migration of government and community functions to blockchain easier. eGaaS aims to achieve this by implementing four basic functions — financial system, registry structure, smart contract algorithm and smart law formation and execution mechanisms.
The platform is implementing a novel mechanism to frame and execute smart laws – algorithms describing the rules and conditions regulating the execution of state laws. The credibility of smart laws is confirmed by the representatives of legislative bodies using digital signatures. Smart laws are responsible for regulating the creation and execution of smart contracts; they automatically regulate the relationship between individuals and organizations in all areas of state activity, ranging from civil registration to tax remissions.
eGaaS can be used to create a variety of financial, business and social applications such as payment systems, stock exchanges, insurance and credit organizations, accounting and management systems. It makes allowances for creating rules of relations between their members and conduct voting. It also eliminates the need for multiple intermediaries, regulatory authorities, and document circulation.