Forrester Research Case Study: A leading government service agency leverages blockchain to simplify tax processes
In this case study, you will learn how a leading government services agency created a program with the support of Infosys using Blockchain to simplify tax processes.
Tax compliance is key to an economy, but most countries struggle with a highly complex tax environment due to a multitude of stakeholders and policy evolution over years. Despite the barriers, it is incumbent upon tax agencies to promote ease of use, equity, transparency of the tax assessment and enforcement to drive compliance. The government services agency decided to use a blockchain based solution provided by Infosys to drive improvements in its tax processes. Its experience with envisioning and building a solution for all stakeholders, such as taxpayers, financial institutions and other government agencies, provides valuable lessons to digital leaders who are considering using distributed ledger technology (DLT).
- Blockchain requires a big vision but a pragmatic start
A key power of blockchain unlocked in running it for an ecosystem. It needs a vision in which multiple stakeholders join the platform to drive mutually useful use cases. However, it is more pragmatic to start solving for simple use cases and build on that experience before scaling up and out.
- Blockchain costs aren’t for the technology itself
Unlike public blockchain, such as those running cryptocurrencies like bitcoin, permissioned blockchain are relatively less expensive to build. However, there is a significant effort in the initial legwork that is needed to convince partners to come on-board and drive adoption.
- The right partners drive adoption
Not all participants will see value in running a blockchain node on their own. For such entities, with limited investment appetite, the right technology partners can help defray upfront costs through a shared or hosted blockchain platform.
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