Govearn is the world’s first Government-Citizen collaboration public benefit initiative for public private partnership. The platform is committed to empowering growth with economic value. It aims to become the leading collaborative global platform for public private partnership that uses the blockchain technology. Govearn utilizes smart contracts and development tokens that affect citizens’ participation with governments in public benefit projects.

Pillars Of Operation

Govearn operations revolve around three main pillars:

Blockchain: the Distributed Ledger Technology of blockchain is more of a foundational technology. It has the potential to create foundations for economic and social systems worldwide compared to disruptive technology, which typically attacks an existing system(s).

Ethereum: the Ethereum network provides an open source platform for applications that run exactly as programmed with absolutely no chance of fraud, censorship, or third-party influence. Ethereum is a public blockchain-based platform that features smart contract functionality.

Smart Contracts: a smart contract refers to a computer protocol that digitally facilitates, verifies, or enforces the negotiation or performance of a contract. Smart Contracts enable users to perform credible transactions with no third party interference, under various applications.

Govearn Mission Statement

Govearn’s mission is to provide governments, individuals, and corporations with a platform to cooperate as they conduct fundraising, investment, and fulfilling public benefit projects. The platform aims to provide the public sector, private citizen, and any entity with an opportunity to collaborate by utilizing the blockchain technology. Govearn will enable governments to increase resources and in exchange provide the private sector with stable investment opportunities and reliable returns.

The collaboration aims to realize the goals of job creation, fund government budgets for public benefit projects, and generate reliable investment opportunities and returns. This will be possible through municipal, local, or state government entities.

Problem Identified

Govearn has identified the following problems, which it seeks to solve:

  • Shortage of government resources dedicated to the implementation of public benefit projects. This calls for the need for the private sector’s collaboration and funds.
  • Cryptocurrency price volatility challenges since it lacks a backing economic activity.
  • Growing government budget shortage while cryptocurrency market cap is approaching USD $1 Trillion and expansion is heading to excess of USD $10 Trillion in eight years.

Govearn Solution

To solve the mentioned problems, Govearn seeks to implement the following solutions:

  • To establish a Private-Public Partnership platform that allows community members, corporations, and platforms to collaborate in public benefit projects with governments through smart contracts.
  • To create a medium value of exchange that operates on blockchain smart contracts for platform members to utilize in their public-private partnership acquisitions. This will instill governance and transparency.
  • To utilize the generated economic activity to back up the smart contract and cryptocurrency evaluation, so its holders can have a stable exchangeable value that can facilitate investment exit strategies, same as hard currencies market value mechanisms.

Looking Ahead

Govearn is committed to delivering the finest quality of operations to lead the economic development activities of participating governments. The platform is working hard to launch several initiatives and pilot projects. This could include utilizing the latest building technologies and infrastructure development models to create jobs, provide medical facilities, schools, retail outlets, and income-generating opportunities.

The views and opinions expressed in the article What Is Govearn – Blockchain Fintech Community Project? do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.

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