French Cybercrime Division Uses Smart Contacts on Tezos Blockchain

French Cybercrime Division Uses Smart Contacts on Tezos Blockchain

The French Armies and Gendarmerie’s Information and Public Relations Center has validated judicial expenses incurred during investigations on the Tezos (XTZ) blockchain.
A press release published on Nov. 20 notes that the Gendarmerie’s cybercrime division (C3N) used the system to buy from Europol-allocated funds and cover its operational costs with those assets.
Blockchain ensures the ability to audit
Tezos’ main development and research center, Nomadic Labs, claims that the system employs “the first smart contract ever developed by a public authority.” The program enables C3N to buy cryptocurrency from Europol-allocated funds and cover its operational costs with those assets.
Using a blockchain-based system reportedly simplifies administration and procedures, and ensures the ability to audit and traceability of funds. The smart contract that regulates the functioning of the system only interacts with authorized individuals and enables C3N to justify expenses without disclosing operational activities.
Governments are showing an increasing interest in blockchain . Recently, during BlockShow Asia 2019, experts stated that blockchain enables ecosystem connectivity by sharing information in a trustless, decentralized fashion, which in turn could enable a new form of governance.
In a recent instance of blockchain being used in a government administration, China’s Zhejiang province has already processed nearly $6 billion via a blockchain medical billing platform using Ant Financial’s blockchain technology.

READ  The US is number one...in blockchain patents

Leave a Reply

Your email address will not be published. Required fields are marked *

Want to automate your crypto Trading?
Try this new trading Robot!

Your information will be validated and you will be automatically redirected to the trading robot advanced dashboard.