Bribery gets blocked: Stamping out corruption with blockchain tech
The latest report by the Danish Ministry of Foreign Affairs is the latest to highlight the potential of blockchain technology to serve as a powerful tool in fighting government corruption.
Moving government transactions such as public procurement contracts to detectable open ledgers can deal a crushing blow to the kind of corruption that can burden taxpayers the most: large-scale schemes in which irresponsible officials champion processes in the interests of specific contractors.
Three keys to using blockchain technology to reduce government corruption consistently appear in all expert accounts: verification of transactions, registration of official records such as ownership rights, and verification of identity.
Finally, the report's authors propose using a blockchain-based solution to ensure the integrity of public records and digitally guaranteed rights to government property and assistance.
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Good article, it is absolutely right to implement the chain of blocks in the public administration will considerably reduce corruption.
will also make the management more transparent and efficient, I hope to see it one day
This is a great advance, it would diminish or practically make corruption impossible, the same can happen with government elections, if blockchain is used for this, everything becomes quite clear.