Blockchain-Based E-Auction To Fight Corruption In Ukraine
A blockchain-based system for holding online auctions will be launched in Odessa region, Ukraine, in February 2016. The system will allow leasing and selling state property in a decentralized and transparent manner. Such a solution could help fight corruption in this sphere. The current system of state property in Ukraine is centralized. So when this property is sold or leased, only a certain amount of people that control the system get the benefit of it. Thanks to the Blockchain, state property would go online and would be sold or leased without the ability of any particular person to....
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The use of blockchain technology has now expanded to the fight against corruption as well. Among the many advantages of the digital currency, the transparency associated with transactional data stored over the blockchain is the most attractive one. The very property comes in handy when it comes to maintaining transparency and preventing corruption in sectors where blockchain-based applications are used. The digital currency technology is already being considered by few government representatives, institutions and other social organizations in their fight against corruption. The blockchain....
It is interesting to note this idea has the full support of the Ukrainian government. An agreement for this blockchain-based auction platform.was reached in March of 2016. Blockchain technology can be used in a wide variety of ways. Over in Ukraine, they are preparing for the world’s first blockchain-based auction. Decentralized online auctions are an interesting opportunity to explore – that much is certain. Most people know blockchain technology as the mechanism powering the Bitcoin protocol. This innovative technology has attracted a lot of attention from the financial world. Various....
The U.K.’s former Prime Minister David Cameron said on Monday that the blockchain can be used to fight government corruption and that he is ‘excited’ about the potential that the technology presents. Speaking at the opening of FinTech startup Blockchain’s new London offices, Cameron said that what ‘most excites me is the potential that your technology has to fight corruption and to deal with failures of governance and governments and the rule of law all over the world,’ reports Business Insider. Talking about countries where so many people are trapped in poverty with corrupt and failed....
Bitcoin Foundation Ukraine and KUNA Bitcoin Agency are expected to announce a Ukrainian blockchain project to set up an E-Governance system in Odessa, Ukraine. The corresponding memorandum was already signed by the First Deputy Head of Kyiv Regional State Administration Lev Partskhaladze, said KUNA founder, Michael Chobanyan to CoinTelegraph. Now Odessa Oblast may become the first administrative center to adopt blockchain technology for governance. Though it has not yet been confirmed just exactly which "blockchain" will be implemented. As the first step in the project, Bitcoin Foundation....
Blockchain can reportedly return billions of dollars back to Kenya’s budget. Blockchain technology can help countries like Kenya from losing billions of dollars to corruption, according to an official at the United Nations’ drugs and crime agency.David Robinson, the regional anti-corruption advisor at the UN’s Office on Drugs and Crime, believes that new technologies like blockchain will help Kenya combat government corruption and other economic crimes.According to Nation Media Group on Nov. 3, Robinson claimed that blockchain-based solutions can provide full traceability of transactions,....