French Law Enforcement Agency Uses Smart Contracts Running On Tezos (XTZ) To Validate Expenses

According to a recent press release published on LinkedIn by Nomadic Labs, as of September 2019, the first smart contract ever developed by a public authority was deployed in the Tezos (XTZ) blockchain.

French Law Enforcement Agency Uses Smart Contracts

Tezos is one of the most popular blockchain networks in the market. In the last year, it expanded as an innovative solution for companies and institutions to deploy their smart contracts.

This time, The French Armies and Gendarmerie’s Information & Public Relations Center (SIRPA) has been validating judicial expenses incurred during investigations. In addition to it, the law enforcement agency has also been recording this information on the Tezos blockchain.

The Gendarmerie’s cybercrime division (C3N) is the one that was using smart contracts on a public distributed ledger to improve its processes and keep control of its tasks and data.

The report explains that this is one of the first examples of how a government organization is able to use smart contracts for operational purposes. At the same time, the C3N is able to acquire cryptocurrencies from the Europol funds to cover operational costs.

The press release goes on by saying that the smart contract deployed was designed to only provide access to authorized individuals, allowing the division to justify expenses without disclosing information about their operations.

Other governmental agencies around the world have been using blockchain technology in order to reduce bureaucracy and increase efficiency. A provincial government in Argentina is currently using Bitcoin and Ethereum to store copies of documents.

In Switzerland, blockchain technology is being used to conduct local minor elections and help citizens increase their participation in the community.

At the time of writing this article, XTZ is the 17th largest cryptocurrency in the market with a valuation of $814.69 million. At the same time, each XTZ can be purchased for $1.23.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin-based Startup Zap Opens Strike for Public Beta And Plans to Release Visa Rewards Card

Jack Mallers, Zap founder, revealed on Thursday that Zap’s Strike product, which enables individuals to receive Bitcoin in US dollar form through direct bank...

Techemy Capital Plans To Launch Compound (COMP) Investment Portfolio for Yield Farmers

Techemy Capital, a New Zealand based digital asset investment firm and fund management, announced the planned launch of new DeFi strategic investment products next...

Bitcoin Retail Investors will Eat Up All the New Supply Starting 2028: Report

The latest study titled, “Retail Investors Steady in Physical Bitcoin Snatch-Up” talks about how the remaining 10% of bitcoin supply will take 120 years...

Russian Court Denies Appeal for $900K Compensation for Stolen Bitcoin; It's Not Property

A victim of a kidnapping in Russia who lost $90,000 worth of Russian Rubles and 99.7 in stolen Bitcoin, appealed to the court almost...

Bitcoin Price Dullness Reflects in Difficulty that Records its Lowest Drop since 2010

For the past two months, the price of bitcoin has been stuck in a range of $8,500 and $10,000. The leading cryptocurrency has been...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today