Blockchain in Governance
Governance is everything from administration to public services whether undertaken by a nation’s government, market or a network, either by a monarch, formal or informal alliance with help of laws, authority or power of any organized society. The processes of interaction and decision-making among the parties involved in a collective problem that lead to the creation, reinforcement, or reproduction of social norms and institutions. In lay terms, it could be described as the political processes that exist in between formal institutions.
Blockchain in Governance & Voting- What’s new?
Many government entities have started with the adoption of blockchain technology in the current administrative and political scenario. To create a sense of trust, many governments try to be as transparent, open and compatible as possible. Blockchain could be a key solution in achieving all of this. By demolishing bureaucracy, governments look to streamline their citizen interaction, all financial transaction and smart contract management. In a quite recent IBV Study “Building trust in government: Exploring the potential of blockchain for government” about 200 important leaders from as much as 16 different countries were surveyed on their experience and expectations from blockchain technology.
Also rigging of elections would be a thing of the past as blockchain introduces new and improved ways and solution to make the elections and voting process more secure and concrete. Here are some key pointers on what blockchain brings to governance and voting.
- Better transparency between government and their citizens
- Ease of access for government services and portals
- Justice and law enforcement agencies are more transparent
- Election and voting becomes resistant to rigging
- Better communication and record maintenance across government bodies
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