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Can blockchain end corruption?

Oct 15, 2017 Posted /  37306 Views

Can blockchain end corruption?

The capacity of the technology that backs bitcoins and many other cryptocurrencies is getting noticed in various ways and field, especially in the finance and technological industry. Up to an extent, it has started to get recognized. However,  people are exploring this technology further in a different field, and it would be wonderful if the government also takes the blockchain path.

Where can we implement Blockchain to end corruption?

Well, blockchain can be implemented into various entities of the governmental sector. A blockchain based voting system might help to ease the voting procedure, where no one can and will be blamed for alteration of votes. It will be decentralized as well as transparent, which might solve the issues of voting procedure. Since it is an immutable ledger and will provide accuracy in the voting system. Countries can implement this technology for transactions on a global level, which will help to trace every bit money which will be transacted by the government. From government offices to central government offices to army to navy etc, the blockchain technology will help to defeat corruption.

Can it do the Herculean task?

Thwarting off corruption is not a cake walk, rather it is an elephant task. The roots of corruption are deeply penetrated, which is very difficult to discard, corruption starts from the basic to the most higher level of the governmental hierarchy. The blockchain technology can be used to trace the government outlay, which would alert every politician and will make it tough for them to utilize the money inappropriately. The blockchain technology is something which can be cited as the need of the hour. There is a requirement for such a network which can trace every step and spending of the money which is collected in various forms of tax.

Thus, the government needs to implement this technology. This could not entirely defeat corruption because accepting and giving bribe is so prevalent. But, if not eradicating totally, it can help to reduce the corruption.

Implementing blockchain cannot be done from upper to lower level, but can be started from the lower level to upper level of the government. It also needs participation and support from the people and organizations to make a wise and wide usage of the technology for the evolution and revolution of the system.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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