Technology Aid

Top Menu

  • Home
  • Contact

Main Menu

  • Cloud & Hosting
  • Gaming
  • Security
  • Social Media
  • Tech & Science
  • UX/UI
  • Web
  • Latest
  • Contact
  • Home
  • Contact

logo

Technology Aid

  • Cloud & Hosting
  • Gaming
  • Security
  • Social Media
  • Tech & Science
  • UX/UI
  • Web
  • Latest
  • Contact
Latest
Home›Latest›Blockchain Technology Can End Federal Corruption and Bureaucracy

Blockchain Technology Can End Federal Corruption and Bureaucracy

By Brooke W
February 7, 2019
52
0
Share:
Blockchain Can End Federal Corruption & Bureaucracy

Corruption in government departments is a nuisance every nation struggles with. Federal departments and institutions who are responsible for the welfare of citizens and country are found flagrant in deep corruption. The problem of corruption is deeply engraved from a single office to a major public corporation.

It entails detrimental consequences on the wellbeing of citizens and the prospect of development in the country. Most nations face unrelenting challenges and wiping out corruption from governmental departments. Yet, it is certain that no country can ever detach from the problem. Corruption fuels poverty. It puts the country’s position in different areas such as finance, economy, society, politics, and the damages are born by citizens.

In the modern age, governments are finding solace in the power of technology to fight different battles. Ever since the integration of advanced technology in public offices has taken place, governmental affairs have dramatically transformed.

On the other hand, governments are required to forge trust and be transparent and collaborative in their methods. Taxpayers have a constitutional right to understand the work of government and corruption can only mean the worse for them. In an attempt to ensure utmost transparency, governments can use blockchain as a tool.

Blockchain technology explained

In layman’s terms, a blockchain is a digital ledger that is completely decentralized, distributed and public. It records all sorts of transactions in a very transparent manner. No record on a blockchain can be modified retroactively without having to alter the entire chain of blocks.

Challenge corruption and beat the bureaucracy

Blockchain can be integrated in order to defeat bureaucracy by streamlining financial transactions, citizen interaction, managing contracts, etc. Research states that governments are launching projects and revamping systems with the integration of blockchain to transform every process. Regulatory affairs, identity management, public services and contract management are key areas that are being worked on. A study by IBV called “Building trust in government: Exploring the potential blockchain for government”, sheds light on how different governments are moving forward with it.

Estonia’s example

A remarkable example comes from Estonia where the government has introduced a digital identity card incorporated with blockchain technology. It allows users to access public services and so they can verify their data and records stored in government databases on the blockchain protocol. They can also control the access of all their information. Besides, the government of Estonia is also looking forward to introducing blockchain technology to safeguard healthcare records.

The digital ecosystem is certainly booming in Estonia with blockchain technology being the paramount example. Companies like Moniat Group that is heavily engaged in developing blockchain. Moniat has also introduced cryptocurrency (MAT) that can strongly work as a medium of payment on an Ethereum blockchain. In addition, Moniat Group is also working on a blockchain-based social media platform and blockchain-based identity apps. The platforms will use Moniat as the sole decentralized app payment method.

Moving on, blockchain would definitely endorse transparency in government dealings. By registering records, details of assets, data, etc. on a shared ledger, transparency would certainly be the factor. Important information cannot be withheld and would be shared widely on the protocol. Real-time transactions can be verified. Smart contracts will increase automation and so increase the pace of processes taking in public offices.

TagsBlockchainCryptocurrency
Previous Article

Why E-commerce Businesses Need Mobile Apps On ...

Next Article

Keep the Status: 5 Excellent Cars for ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Customer Relationship Management With Customer Management Software
    LatestTech & Science

    Customer Relationship Management With Customer Management Software

    August 1, 2017
    By Administrator
  • How Your Businesses Should Protect Data
    LatestTech & Science

    How Your Businesses Should Protect Data?

    July 30, 2017
    By Administrator
  • How New Technologies Should Be Applied In The Travel Industry
    LatestTech & Science

    How New Technologies Should Be Applied In The Travel Industry?

    June 26, 2017
    By Administrator
  • health
    Latest

    Eliminate Acidity: Alakine Diet the Way Forward

    June 26, 2018
    By John Rayne
  • 5 Facebook Advertising Mistakes That Are Hurting Your Budget
    LatestSocial Media

    5 Facebook Advertising Mistakes That Are Hurting Your Budget

    March 14, 2018
    By Erin F
  • Latest

    What Is The Ideal Social Media Platform For Your Ecommerce Website?

    September 24, 2018
    By Erica S

Leave a reply Cancel reply

You must be logged in to post a comment.

  • How Can Technology Transform Indian Banking?
    Tech & Science

    How Can Technology Transform Indian Banking?

  • How To Choose The Best Gaming Laptop?
    GamingLatest

    How To Choose The Best Gaming Laptop?

  • How Your Businesses Should Protect Data
    LatestTech & Science

    How Your Businesses Should Protect Data?

Recent Posts

  • Novelties In Communications For 2019
  • How to Find the Best Digital Marketing Agency in Hyderabad?
  • TOP 13 Girly Gadgets that Every Business Woman MUST HAVE in Her Bag!
  • Keep the Status: 5 Excellent Cars for Business Travelers
  • Blockchain Technology Can End Federal Corruption and Bureaucracy
  • Why E-commerce Businesses Need Mobile Apps On Their Arsenal
  • Digital Marketing – What Importance Does It Hold For Businesses In Today’s Digital Time?
  • Buy Runescape gold
  • Convenience Which e-Commerce Brings
  • What Are The Best Practices For Social CRM Software Implementation?
  • Role Of Social Media Marketing In A Competitive Business Environment
  • Reasons Why Should Your Organization Hire a Cyber Protection Company

Categories

  • Cloud & Hosting
  • Gaming
  • Latest
  • Security
  • Social Media
  • Tech & Science
  • UX/UI
  • Web

Archives

  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • Home
  • Contact