With governments and public institutions eyeing blockchain technology as a means to enhance transparency, accountability and efficiency, Arthur Breitman, co-founder of Tezos blockchain, has highlighted blockchain's potential in emerging markets, touched upon the unique capabilities of Tezos and addressed the prospects of collaboration with government entities.

In an interview with Benzinga on the sidelines of the Oxford Blockchain conference, Breitman also discussed the prospects and challenges of integrating blockchain technology into government systems.

Tezos’ Scalability, Governance Mechanism:

Tezos initially gained attention as one of the first proof-of-stake platforms, with a governance mechanism that empowers its community to decide how the blockchain evolves, Breitman said. 

Scalability has been a critical focus for Tezos, he said. 

The platform has seen improvements in throughput and is continually striving to scale in such a way that adding more computers to the network increases capacity.

"This is essential for accommodating the needs of large applications and user bases. Tezos has also been working on a series of upgrades, each named after a city, as a part of its community-centric approach," he said.

Blockchain In Emerging Markets:

When asked about the role of blockchain technology in emerging markets like India and the Philippines, Breitman said blockchain has the potential to address issues such as corruption by bringing transparency through a public ledger system.

"Blockchain could be particularly beneficial where transparent and auditable records are required. However, the solutions need to be developed by people who are closely acquainted with the challenges specific to these markets," he said.

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Blockchain In Developed Markets:

Regarding developed markets like the United States, Breitman said corruption takes different forms and may not be as blatant.

Although Breitman said he does not see corruption as a significant issue in the U.S., he acknowledged that blockchain could still offer benefits in terms of transparency.

The relative advantage of blockchain in markets with well-established financial systems is lesser than in emerging markets that lack robust economic infrastructure, he said. 

Tezos’ Government Collaboration Prospects: 

Tezos as a blockchain is open to being utilized by anyone, including governments, Breitman told Benzinga. 

He mentioned that opportunities for collaboration with the U.K. government or other entities could be explored if they align with the values and interests of the Tezos community.

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