According to Nomadic Labs’ press release, the French Army is using Tezos smart contracts. The publication states that Gendarmerie’s cybercrime division (C3N) has been validating and recording judicial expenses on the Tezos blockchain since September 2019. The French Armies and Gendarmerie’s Information and Public Relations Center (SIRPA) confirmed the announcement.
This is one of the first examples of any government using smart contracts for their operations. Especially the open-source one. This way, C3N uses Tezos to make administration more efficient and cost-effective. By using the blockchain, C3N ensures that the security level remains intact while the funds in internal circulation become more auditable and traceable. Moreover, by having exclusive permits for individuals, these contracts can justify expenses while not disclosing any further details about C3N’s operations.
Tezos smart contracts making C3N operative expenses auditable and secure
To simplify, Tezos smart contracts enable C3N to procure cryptocurrency payments from Europol-allocated funds. Then, they use them to pay for operational costs. Tezos’ blockchain ensures that each transaction remains auditable. Furthermore, the system remains secure and immutable.
We can say that this is a prime example of public, open-source DLT at its best being incorporated into the government’s operations. This way, Tezos established a strong presence in the French market. Since Tezos is the project launched from Paris, this implementation surely holds the potential for more utilization.
The biggest success in just over a year of existence
Since the launch back in June 2018, this is by far the biggest achievement for Tezos. Even more so as the research organization which published the release states:
This is the first smart contract ever developed by a public authority and it was deployed on Tezos.
However, Tezos doesn’t stand alone in the French market. The fork of Tezos, Dune, has recently been successful in getting the backing from some of the most lucrative investors in the country. It looks like the whole ecosystem based on this blockchain is thriving in one of the EU’s biggest countries.
Meanwhile, perhaps because of this breakthrough, Tezos (XTZ) is currently the best performing top 20 coins according to CoinMarketCap. During the last 24 hours, it has been among the rare coins not to fall victim to the recent FUD, recording a 3% price increase. At the time of the press, XTZ ranks 18th by market capitalization with $1.21 per coin valuation on Binance.