Blockchain
“The blockchain technology is a decentralized ledger that keeps a record of transactions that takes place across a peer-to-peer network” (Thamas, 2019). Blockchain technology makes transactions efficient and cost-effective by eliminating the middlemen especially in the money transactions. Blockchain technology has been employed in multiple fields that include finance, healthcare, and government services to perform financial transactions, voting, business transactions, and others.
Several challenges are contributed by poor citizen engagement in a country that includes poor government services and poor implementation of citizens ‘democratic rights like voting. The process of voting through the implementation of democratic leadership has faced many political problems and the application of blockchain technology is a solution to the problems. The blockchain technology ensures that all the citizens are engaged through e-voting and the records are kept transparent by using the blockchain ledger. Blockchain technology gives all the voters the ability to track all the voting transactions giving them the power to choose their leaders without intimidation or issues of election irregularities. Blockchain technology is the tool that would empower democracy in a country by ensuring all the people exercise their rights and their contribution to the government is felt (Ransbeeck, 2020).
The other current problem is poor government services that are characterized by delays and lack of integrity. Blockchain technology automates government transactions increasing their efficiency, speed, and security where cryptographic keys are used to access. The automated transactions and records also can be easily traced because the historical transaction data is well kept and help in the verification of the authenticity of assets, services offered and prevent fraud (Hooper, 2018). Blockchain technology also is a solution to the delay in the verification services from the government like when an ordinary citizen wants to exchange property title, personal identity, and proof of car exchange. The government would employ the blockchain technology that ensures that the processes are digitized through blockchain ledger that ensures transaction verification is done online in an efficient manner.
Most countries currently face unequal distribution and access to the public of public services due to the increase in population and also the challenge of traditional service delivery methods. The application of blockchain technology offers the solution by ensuring all the citizens are included in the government services. The use of the internet has made citizens involved and learns from one another through information sharing, the blockchain acts as a cost-effective system that engages all citizens, recognizes all people regardless of race as a person before the law and ensures access to services. Blockchain technology makes it possible for citizens to get services online like healthcare insurance, business permits, and filing of taxes. The technology makes services accessible to those beyond borders.
In conclusion, blockchain technology would be implemented in more countries in the coming years, and also its application in multiple sectors of the economy would scale much higher. Blockchain technology has transformed various sectors globally making transactions efficient and reliable.
References
Hooper, M. (2018). Top five blockchain benefits transforming your industry – Blockchain Pulse: IBM Blockchain Blog. Blockchain Pulse: IBM Blockchain Blog. Retrieved 14 July 2020, from https://www.ibm.com/blogs/blockchain/2018/02/top-five-blockchain-benefits-transforming-your-industry/.
Ransbeeck, W. (2020). Why the Blockchain Could Transform the Face of Digital Democracy – CitizenLab. CitizenLab. Retrieved 14 July 2020, from https://www.citizenlab.co/blog/civic-tech/blockchain-could-transform-democracy/.
Thamas, Y. (2019). The Importance of Blockchain Technology and Decentralization. Datasciencecentral.com. Retrieved 14 July 2020, from https://www.datasciencecentral.com/profiles/blogs/the-importance-of-blockchain-technology-and-decentralization#:~:text=Decentralized%20blockchain%20allows%20one%20to,making%20transactions%2C%20unlike%20traditional%20banks.