Digital technologies, such as blockchain technology, suppose a great advantage in both national and global governance. While, as with everything, there are risks involved with their use—money washing and terrorism financing, for example—under careful regulation and implementation their potential largely outweighs the drawbacks. One of the most important advancements these technologies provide are speedier and more convenient administrative and financial processes. Often, simple administrative tasks take a disproportionately large amount of time and effort—mostly negatively impacting the citizens, who have to spend interminable hours dealing with complicated bureaucratic issue to solve even the simplest of problems. Often creating more issues in the process. Blockchain technology could dramatically fasten and lighten these processes; in turn, this could reduce animosity towards the public administrations and enhance trust. Blockchain technologies could also be advantageous for entrepreneurs and emerging businesses. Starting a business is often considered to be a tedious, difficult and expensive process. However, as the Estonia example shows—as examined by as authors Farah and Prityi in their article ‘Public Administration in the Age of Globalization and Emerging Technologies: From Theories to Practice’—there could be a new innovative model of digital identity and e-Residency. These systems facilitate the entrance in the market of key business in sustainable development and circular economies. Moreover, the digitalization and storage transactions capabilities of blockchain technology could help fight tax evasion and submerged economy. The amount of time needed to start a company in the e-Residency platform is minimum, as well as the costs. Moreover, Estonia places first in the EU Digital Economy & Society index, the WEF Entrepreneurship and OECD Tax Competitiveness, as well as being the country with most startups per capita in the EU. While all of this represents only the bright side of the system, and we must not forget that there are drawbacks, such as digital breeches, there is strong evidence to promote similar projects in other nations, maybe even an EU digital identity platform.
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