BLOCKCHAIN TECHNOLOGY TO FACE CORRUPTION

in cryptocurrencies •  7 years ago 

As we all know, Blockchain is a distributed database, made up of block chains designed to avoid their modification once a data has been published using a reliable time stamp and linking to a previous block. For this reason it is especially suitable for increasingly storing data ordered in time and without the possibility of modification or revision. On the other hand, this approach has different aspects:

1- Data storage: is achieved by replicating the information of the block chain
2- Data transmission: is achieved through peer networks.
3- Data confirmation: it is achieved through a consensus process between the participating nodes. The type of algorithm most used is the work test in which there is a competitive open and transparent process of validation of new entries called mining.
On the other hand, the concept of block chain was applied for the first time in 2009 as part of Bitcoin.
It should be noted that the data stored in the chain of blocks are usually transactions, sometimes financial, so it is common to call data transactions. However, it is not necessary that they be.
We could really consider that what are registered are atomic changes of the state of the system. For example, a chain of blocks can be used to stamp documents and secure them against alterations.
On the other hand, as for the applications, the chain of blocks is used in the following fields:
In the field of cryptocurrencies the chain of blocks is used as notary public not modifiable of the whole system of transactions in order to avoid the problem that a coin can be spent twice. For example it is used in Bitcoin, DeepOnion, Ethereum, Dogecoin and Litecoin, although each one with its particularities.
In the field of name registration databases, the block chain is used to have a notary system for registering names in such a way that a name can only be used to identify the object that has it registered. It is an alternative to the traditional DNS system. For example, it is used in Namecoin.
Use as a notary distributed in different types of transactions making them safer, cheaper and traceable. For example, it is used for payment systems, banking transactions (hindering money laundering), sending remittances, loans and in digital asset management systems it can be used for different purposes.
It is used as a base for decentralized platforms that support the creation of intelligent contract agreements between peers. The goal of these platforms is to allow a peer network to manage their own smart contracts created by users. First a contract is written by means of a code and it is raised to the block chain by means of a transaction. Once in the block chain the contract has an address from which you can interact with it. Examples of this type of platform are Ethereum and Ripple.
Implementation of the cryptographic component called Bulletin Boards used, among others, in electronic voting systems, creation of records, auctions and discussion forums.
Therefore, taking into account the previous description, it is possible to face the corruption of the governments, by the following ways:

Management of public funds:
With the blockchain technology it is possible to achieve that social investment funds are protected in a common accounting record, ensuring that the resources reach the intended purposes.

Elections:
Through this technology, the votes will be counted in real time, and will have a detailed support, which will limit electoral fraud, and therefore strengthening the democracy of the countries.

Government management:
Everything related to: registration, monitoring and auditing the progress of public works, which would be possible through intelligent contracts, ie computer programs that facilitate, ensure, enforce and execute agreements between two or more parties (for example , people or organizations). As such they would assist them in negotiating and defining such agreements that will cause certain actions to occur as a result of a series of specific conditions being met.

It should be noted that currently some governments around the world are already developing blockchain technology to attack corruption. Between these countries they can be named: Australia, China, South Korea, Arab Emirates, Estonia and Holland.

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