Transparent Governance and the End of Corruption with Blockchain Technology
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....
Related News
Blockchain is set to be discussed at a United Nations (UN) meeting on sustainable development today. According to a UN agenda, the meeting in New York will focus on how private-public partnerships could use blockchain (among other tools) to achieve sustainable development goals. The event is being organized by the diplomatic missions from Bangladesh and El Salvador, along with the World Organization of Governance and Competitiveness and New Jersey-based Saint Peter's University. The UN’s 16th Sustainable Development Goal focuses on a variety of areas related to inclusion, transparent....
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....
As a continuation of my Blockchain series, I will be covering the potential of the blockchain for the purpose of voting reformation. In order to properly cover sidechains, I need to continue to dig into the knowledge base regarding the technology to learn more about the technology before I write about it. Sidechains are a revolutionary idea for Bitcoin, and it deserves to be reported well. In this part of the series, I intend to explain the importance that blockchain technology can play in how voting is done. Voting throughout history has shown us that corruption can take root, and many....
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,....
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....