Politics

Decentralized Currency
February 22, 2018
Supply chain
July 3, 2018
 

Problem

Elections. Democracies. Politics. It is an open secret that our political systems are imperfect. In fact, one wouldn’t hesitate to call them broken. The current system seems more and more dysfunctional and ineffective as the days pass because of the information that we receive from different sources. With the increasing news of manipulations by the official authorities, in the process of counting votes or passing a law, the trust in the government has reached new lows in the recent times. The recent sessions of the governments in all the leading democracies have been amongst the least productive ones. Certain news about the foreign and non-state actors with real power affecting the elections has shaken the pillars of trust the citizens had in the prevailing system of politics. Majority of the people from all over the world are expressing their dissatisfaction and concern over the direction in which all the democracies are headed.


 

Solution

Blockchain technology gives us a viable solution here. With its decentralized, selective and impenetrable storage of data, it also provides a perfect ledger to track the information. With this feature, blockchain has the ability to replace anything where the humans are prone to make mistakes and this is where the governments come to mind. Voting could go digital with no scope of manipulation by any official authorities or foreign agents involved. All would be able to vote online, and it would be put on the blockchain ledgers on each computer in the blockchain. The irreversibility of the transactions would make the votes permanent without any possibility of changing them once cast. Even the election results would be stored on nodes which are distributed over the network which would make it theoretically impossible to temper. This could be used as a standard all over the world for corruption-free elections and in turn, reduce the cost of monitoring the elections.


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