According to a statement released by the National Research Council of Canada, an Ethereum blockchain explorer has been built by them.
The blockchain explorer was built under the industrial research assistance program. The organization further stated that it is building for executing the applications in the near future. The organization was quick to add that up until now, they do not have any applications in mind. It added that these are very early stages and no conclusion should be drawn.
The organization, however, is now exploring the applications to find out which one will be the most suitable and efficient application. With the help of Ethereum blockchain, the smart contracts can be executed quite easily. When the smart contracts are executed easily, various applications can be built. Bureaucratic applications are also possible. That is why the numbers of applications which can be built using this explorer are plenty. With the help of this explorer, innovation can be made possible as well. This will ensure that the developers are able to develop a wide variety of new applications as well.
With the Canadian government body taking the initiative, it is just a matter of time before the other countries also follow suit. When the innovation in the blockchain is done with the help of the private sector as well as government bodies, you can be sure that the potential is pretty huge. This will mean that it becomes much easier for the blockchain experts to tout the credibility of the blockchain technology as well. That is why; this is actually hugely positive news for most of the blockchain experts.
Additionally, it remains to be seen that in the final form, this explorer is used for which kind of applications. A lot will be dependent on the usability as well as the feasibility of those applications. With the increasing number of applications, the Ethereum blockchain will become more and more popular. This is certainly a boost in the arm for the Ethereum blockchain.
The naysayers will be surprised that now even the governments, as well as the authorities, are exploring the potential of the blockchain technology. This will mean that in the coming time, it will be actually a versatile technology which is used by each and every corporation as well as government departments in order to induce efficiencies into the various departments and the tasks which they need to conduct. This is going to be huge news for the blockchain industry.
Join the newsletter to receive the latest updates in your inbox.