November 15 ICO and beta testing of Electronic Government as a Service (eGaaS) begins (eGaaS Manifest, White Paper: eGaaS).
eGaaS is an international blockchain platform for organizing the economic, state and social activities of citizens and their communities on the basis of smart law and smart contract system.
Unlike the variety of existing blockchain projects which are mostly aimed at accomplishing specific tasks, eGaaS offers a comprehensive solution to transfer all tools needed for state and business management to the blockchain platform.
eGaaS allows to create registers of the objects involved in legal and economic relations: individuals and legal entities, real estate objects, securities etc. The management of financial operations is transferred to the Central Bank that sets up eGaaS accounts for all citizens and organizations and carries out transactions in national currency.
To perform business operations eGaaS supports smart contracts’ technology that automatically implement the algorithm of deals with register objects using transactions between the Central Bank's accounts.
But the main know-how of eGaaS is the mechanism of creation and implementation of smart laws. Smart laws are electronic algorithms describing the rules and conditions of implementation of the state laws confirmed by digital signatures of representatives of the legislative bodies. Smart laws regulate the establishment and implementation of smart contracts and automatically regulate the relationships between citizens and organizations in all areas of government activity, from civil status registration to tax deductions.
Thus, combining the financial system tools, the registry structure, the mechanisms of smart contracts and smart laws in one unified blockchain platform, you will get a comprehensive tool for state governance that will allow you to:
- Significantly reduce paper workflow.
- Automatize public services, thus reducing expenditures on monitoring and registration bodies to zero.
- Simplify the processes of registration, licensing, insuring, lending for business.
- Reduce the need for accounting and legal services to a minimum.
- Drastically reduce transaction costs.
- Increase the quality of medical care due to accurate and comprehensive keeping of all medical data.
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