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October 04, 2020, 01:37:39 AM |
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We have been dreaming a perfect world, and its fair enough, mainly because there is so much imperfection filled in this world. Imperfections are fine as long as it does not affect the world in being a fair and just place. We all know that blockchain promises tamper-proof recording systems which cannot be modified by anybody. It becomes extremely difficult to modify any data that goes onto the blockchain unless the blockchain itself is controlled by manipulative entities.
I often think and ask questions to myself, cant we just plug all the corruption in the world if we implement blockchain for all government entities?
I remember World Economic Forum mentioning that scalability is a problem for large scale adoption at a governmental level. I see new scaling solutions that are already coming up and now we even have regulatory compliant blockchains like Concordium( which claims to be the world's first regulatory compliant blockchain ) so the blockchains can be designed so that it is compliant with the local laws. Blockchain would be the single most effective tool to curb corruption.
Securing Identities, tracking fund flow, registering assets and procuring contracts can all be done on blockchain and would even save so much extra work and hassles. Governments are supposed to be, "By the people, of the people, for the people". So, it would on,y make sense to do all these things on the blockchain.
Imagine disbursement of aid , relief resources in times of distress and showing complete transparency is knowing where your tax money vanished? Do you think it is the lack of political will or simply not having enough technology readiness?
How long do you think until blockchain plugs atleast 90% of the worlds corruption?
WAKE THE HELL UP SHEEPLE.
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