Jordan has taken a bold step forward in adopting blockchain technology for its government operations. The plan, which has received approval from the Jordanian Council of Ministers, is set to revolutionize the country’s existing systems, which critics claim suffers from bureaucracy, insecure systems, and a severe lack of transparency and public trust.
The move towards blockchain will deliver a more transparent and efficient service delivery of public services. Advocates of Web3 believe that this decision will stimulate economic growth as Jordan looks beyond the oil industry. Through the use of smart contracts, civil servants will be able to automate tedious tasks, and the peer-to-peer nature of blockchain will help reduce administrative costs. The government has also expressed intentions to use blockchain to secure citizens’ data and explore Web3-based digital identity systems.
Experts suggest that Jordan could save up to $5 billion in government spending by integrating blockchain into their processes. Savings are expected to come from fraud prevention, blockchain-based elections, and improved supply chain efficiencies.
Furthermore, the strategy entails developing the existing talent pool with blockchain experts to navigate the incoming Web3 era. Funds will be allocated to train civil servants in Web3 skills and to introduce this emerging technology into high schools and universities.
Meanwhile, in other parts of the Middle East, the Syrian Center for Economic Research (SCER) has proposed to Syria’s transitional government the legalization of BTC and other digital assets. The SCER, a non-governmental group of academics, engineers, and business leaders, believes this move could revive the war-torn country’s economy by fostering the development of a digital economy and decentralized banking infrastructure.
In addition, the SCER is advocating for the creation of a Central Bank Digital Currency (CBDC) to improve the digitization of the financial system. The group suggests digitizing the Syrian pound on distributed ledgers to enhance local payment services and proposes that the CBDC be backed by “liquid hard assets” like BTC or gold rather than fiat currency.
Despite the forward-thinking proposals, the SCER stated that their recommendations were not intended to circumvent international sanctions. Instead, they believe that sanctions should be urgently lifted through legal and political processes in accordance with international law.
The steps taken by Jordan and the proposals made by the SCER are indicative of the growing interest in blockchain technology and digital assets in the Middle East. As these countries continue to explore and adopt these emerging technologies, the region is poised to become a significant player in the global Web3 ecosystem.
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