If we imagine a country existing in a bubble, the only one in its realm, I can imagine mostly positive things would happen; low level of government corruption, justice would truly be blind, high level of equality, low level of power abuse, etc. Still, abuse of power would be possible, and it would be mostly enforced by buying people and putting them on the streets to fight for your interests. That would be expensive and rare, or maybe not. Maybe we will see more riots and civil wars due to the government's inability to use illegal means? People hungry for power would have no interest in being in government; they would rather operate privately. On paper, it should be better; in practice, now that I've given it a thought, I'm not sure. It certainly should be tested! Guess I would start with testing on protocol governance on not-so-vital state or city agencies… like the city parking service.

In our real world, if one country's government would move operations on transparent and immutable protocol, that county would be torn apart economically very quickly.

International organizations like the UN might be a good fit for immutable protocol governance.