Some prominent authors of the National University Of Ireland (NUI) Galway, came together to discuss on the adoption of blockchain in Ireland, calling on the government for support, by promoting the technology more broadly in the country. This was reported by the Irish Times on the 11th of May, 2018.
The study proposes recommendations to increase blockchain awareness and adoption, that can reportedly have a positive impact on economic growth and establish a basis for how the government and Irish organizations carry out business.
Dr. Trevor Clohessy at NUI Galway, who led the research, called for government action to promote blockchain in Ireland through the development of a national initiative in his words tried to speak on the benefits of this technology to the government:
“…Beyond business, other beneficial uses of this technology would be in voting machines and ballot boxes to address electoral fraud and potentially looking at a blockchain enabled technology-controlled border identification system that could provide a possible solution to the current North/South Brexit border challenges.”
The key findings show that only 40 percent of enterprises in Ireland have embraced the technology, which is a relatively low rate according to the researchers. The study found that top factors affecting blockchain adoption were support from top management, organizational readiness, legislative uncertainty, and a lack of business cases and in-house expertise.
Ireland, formerly known for its high scores in productivity and at the same time, it’s advanced IT infrastructure, is now widely known as a hub for fintech and blockchain business, touting a low corporate tax rate of 12.5 percent with a double taxation treaty network with 72 countries.
Last month, financial services provider Mastercard, announced it will hire a wide range of professionals such as software engineers, data scientists, information security experts, and blockchain specialists in Dublin to boost innovation in the field of payments.