Blockchain could bring a revolution in public financial management

IMAGINE you could rewrite the rules of public finances. Imagine not having to cut social services nor raise taxes to close that damaging hole in your budget. Imagine building more schools and training more doctors without having to borrow money, raise taxes or cut other budgets to pay for them. Imagine being the generation of public service leaders that creates high-quality, well-funded government services without leaving tomorrow’s taxpayers to pick up the tab.

Or imagine you could rewrite the rules of public sector lending. Imagine if organisations that spend donor or investor money on public projects could accurately, and in near real time, track how that money was spent and generate data to demonstrate the impact it made. Imagine how much more confident donors or investors would be that their money was being spent effectively and efficiently – and the impact this confidence could have on our collective capacity to do good around the world.

Is this too good to be true? Not anymore.