Can Blockchain Help Prevent Government Corruption?
Blockchain can be a powerful tool in countering government corruption, leading to greater transparency, automation, and auditability. According to a report by the World Economic Forum, blockchain has a crucial role to play in enhancing governance, and in stopping corruption in a range of public administration settings.
In a post co-authored by Rachel Davidson Raycraft of the University of Virginia School of Law, Batten School of Leadership and Public Policy and Ashley Lannquist, Project Lead on, Blockchain and Distributed Ledger Technology at the World Economic Forum, the World Economic Forum set out five use cases for blockchain in keeping governments honest. The public procurement use case could allow direct action on risk factors in procurement, with automated contracts and immutable records linking to deliver better, less corrupt procurement over government departments.
Land registration is becoming a frequently popular use case for blockchain, publicly verifiable, providing secure, permanent records of land ownership and title. Being signed to the blockchain means records are less susceptible to tampering and manipulation. The same enlarges to electronic voting led on the blockchain, which can decrease corruption and electoral fraud. By building a permanent and transparent voting infrastructure, blockchain technology can improve electoral integrity and transparency for more effective outcomes.
Beneficial corporate ownership is being observed more precisely in countries worldwide in current years, as a means of identifying fraud and illegal activity. By building and storing records of corporate interests on a blockchain, authorities can maintain more efficient records, while better identifying suspicious signals from the data.
Ultimately, the report states governments could utilize blockchain for managing the disbursement of grants, like those in support of the arts, education, and other social goods. Again, transparent, public records restrict the scope for corruption and fraud, helping build faith in the grant awards model. Five of many envisaged use cases, in practice, governments across the globe are already making the most of blockchain in enhancing transparency and efficiency of administration.
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