Blockchain Can Make Government “Incapable of Being Bribed” Says Overstock CEO

The founder and CEO of Overstock.com Patrick Byrne claims that blockchain can make government “superefficient and incapable of being bribed.”

He made the remarks in an interview with MarketWatch published on February 12.

Byrne said that government services have turned a corner for fundamental change of their structure, and blockchain technology will be the ideal solution.

Byrne recommended “building government-as-a-service, a set of applications and companies that, between them, can bring blockchain to different services that governments provide,” which will “make government superefficient, inexpensive and incapable of being bribed.”

Byrne said:

“We could step into Venezuela with six laptops and create not only a functioning society but arguably one with the most advanced government systems in the world. We could bring them a central bank on the laptop. Everyone in Venezuela downloads a free app, and suddenly you have the most advanced monetary system on the planet.”

Byrne also disclosed that he projects to settle a contract with more than one sovereign country in the near future to begin radically fixing their government services.