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Everyone dreads going to the DMV because of red tape, bureaucracy, or whatever you want to call it (or any government office, for that matter). Romania may hold the answer, and it includes the usage of NFTs to reduce bureaucracy.
The National Institute for Research and Development in Informatics (ICI) in Romania declared on June 6 that it is working on a project that will make life easier for all Romanians, Web3 native or not.
It’s an institutional NFT marketplace that will “advance the collaboration between individuals and institutions utilizing a modern digital framework,” according to ICI Director Adrian Vevera.
NFTs: Say Goodbye to your physical wallet
Citizens will be able to use existing NFT technologies to access, transmit, and keep official documents safely and securely on a digital ledger – an NFT — in this institutional NFT marketplace.
These documents are expected to include everything from birth certificates and driver’s licenses to land or property deeds, according to reports. Romanian individuals will be able to have NFT equivalents of all their key documents kept in one convenient digital location once the project is fully implemented.
To make this possible, the Romanian government is collaborating closely with the Elrond Network, which is extremely scalable and carbon-neutral.
So, how will it all come together?
Transforming the public sector with NFTs
The Romanian National System for Issuers and Assets (NSIDA) project aims to provide citizens with a secure NFT marketplace where they may obtain validated government documents without having to physically visit a government office.
Furthermore, the ICI hopes to use the Elrond Network to decentralize digital communication for Romania’s key public resources, making them safer and more accessible.
Will physical licenses, documentation, and certifications become outdated as a result of this infrastructure change? That’s not the case. IRL files will keep their entire validity and utility thanks to the cryptographically secured formats that future Romanian government papers are expected to have.
The Elrond Blockchain
The primary distinction going forward is that they will have Elrond blockchain counterparts for online transactions or applications. The use of non-falsifiable tokens (NFTs) to mint these documents assures that they remain secure and non-falsifiable.
The ICI’s ultimate goal with this project is to speed up and streamline the creation and processing of these documents. Vevera argues that Web3 technologies such as NFTs can “change public administration” by allowing institutions and procedures to “jump forward in terms of efficiency and speed while reducing expenses, overhead, and superfluous bureaucratic tasks.”
Currently, Romania’s ICI’s planned project is the first of its sort in the entire European Union. If it succeeds, governments around Europe — and even the world — will have a win-win situation on their hands. Transferring a large portion of government services online will provide them with a smooth way to reduce costs while also making life easier for their constituents.
In a press release, Elrond Network CEO Beniamin Mincu noted, “The convergence of government and technology presents a universe of opportunities for enhancing humanity.” Let’s hope this particular crossroad turns out well.
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