Sovereign Distributed Ledgers: Estimation of Economic Impact on a National Scale
5 Pages Posted: 28 Sep 2018
Date Written: September 8, 2018
Distributed Ledger form the basis of Blockchain applications. A Sovereign Distributed Ledger (SDL) will be a Sovereign Authority designed, built, maintained and secured Distributed Ledger. The SDLs will allow for the hosting of Blockchain and Non-Blockchain Distributed Ledger based Public services. In terms of services, what SDLs will achieve is that it will make it inexpensive for anyone to provide services or conduct legitimate business over the Blockchain. This is akin to the internet becoming accessible to the majority of the people in the world. The SDL will be analogous to the Internet of Blockchains. It can not only provide public services to the people in an accountable manner (as they will be on the Blockchain), but also provide revenue to the Governments that develop it.
This paper deals with estimating the value that a Government can expect to generate through a Sovereign Distributed Ledger. Firstly, we discuss the basics of a SDL. Then we will assess the possible economic impact of such a SDL on a National economy with a developing country as an example. A model developing economy with a strong service sector is taken as an example in this paper. The paper finally summarizes and concludes on the value proposition of SDLs to a national economy.
Keywords: distributed ledger, blockchain, bitcoin, sovereign
JEL Classification: C88, F62, K24, L24, L8, L86, L88, M48, O14, O38
Suggested Citation: Suggested Citation