Blockchain technology, as we see it, is becoming widely accepted by international entities such as United Nations recently announced that they will be funding sustainable blockchain projects, along with Australia investing half a billion USD’s into blockchain powered solutions. These are just the latest developments, otherwise blockchain is unstoppable now and there is no other option than to choose jumping on this bandwagon of blockchain to become a market competitor in the future. That’s why adopting to blockchain in all the spheres where accountability, traceability, transparency and security is of absolute necessity, blockchain technology is just the right type of technology for you to invest in.
Benefits of Blockchain Powered Elections
Elections that are conducted and planned upon blockchain technology, the stakeholders can be assured that the security driven through blockchain will protect the integrity of the democracy and shield the elections from all the problems that it faces whenever the results of any elections are announced. Its the 21st century, yet we face issues when it comes to arranging and concluding the elections, either on local or national level. To remove all the obstacles and solve all the problems that the election committees face all around the world, blockchain technology can step-in to save the elections and wipe-out almost all the irregulating factors from the system.
If authorities can decide on adopting blockchain technology to power the elections, that will be the day when we can say that elections were concluded in its true democratic sense. That is so because the benefits of blockchain are the agendas or goals for a democratic state.
Following are some of the most common benefits, one can achieve through blockchain powered election systems:
The possibility of hackers manipulating with the voting system is extremely high when the stakes are raised. Therefore, blockchain will provide security from such cyberattacks and protect the integrity of the election system. The blockchain structure is itself secured in such an intricate way that it is nearly impossible for any entity to hack through it.
The data stored or recorded on blockchain can never be deleted and it always remain permanent. All the changes or additions made will not be replaced or be overwritten on the previous data. It will exist as a block/new entry into the chain forever and can be viewed by the necessary stakeholders. Since the blockchain connects the stakeholders through a peer-to-peer network, the data remains transparent. Therefore, the voting systems will be able to record and maintain the ballots casted as per the protocol without the insecurity of someone corrupting the data.
Through blockchain, the votes that the individuals cast, cannot reveal their identity and promise an anonymity to protect their vote. This feature can lead towards an increase in voter turnout as most of the voters do not prefer casting their vote because of the irregularities in the voting system.
Blockchain technology, can speed up the processing time of the voting system. The technology itself is so efficient in regards to maintaining the data that it does not take time while processing information.
During elections, accountability can be factored in as the most important element in regards to upkeeping with the auditability and integrity of the public trust. All the stakeholders, will be held accountable for their actions and the fact that they can be traced, keeps the bad eggs out of the basket.
Blockchain is Disrupting Industries around the world
Blockchain can change the world dynamics given the power of its promises in all the leading industries that have a huge stake in the world economy. With that every business is fighting to bring their business on top of the market, and the businesses shifting to blockchain technology, are already targeting to establish a monopoly with their unique transformation. Therefore, there is room for current and future businesses to operate on blockchain solutions and gain an edge over other businesses who are aware of the potential of blockchain.
However, in a French city, for the first time ever, Tezos blockchain will be used to vote on a local project. The residents of that city will cast their votes through an application developed on Tezos blockchain and people have been waiting to cast this vote for 60 years, so now, the transparency that would have been expected through traditional means of voting, can easily be achieved through this technology. The voter results will assist in solving an issue that lasted for more than half a century. Such a confidence in the blockchain technology can revolutionize the democracy back to its true essence.
We, at reactive space are developing cutting-edge blockchain solutions for businesses all around the world. Even though we are a blockchain development company in Pakistan, our clients are from all over the world and they have a lot of praise in favor of our blockchain solutions. Our highly skilled team of Blockchain developers can change the world with their ability to build solutions for top industry leading organizations. You can expect us to fulfill all your requirements, whether it is developing cryptocurrencies, delivering business solutions, establishing a crypto exchange or deploying an entire digital infrastructure.
The Future of Blockchain in Pakistan
In Pakistan, the blockchain solution companies have a long time ahead of them to deliver projects and solutions that will be developed on blockchain. But, Pakistan does not need it be late in everything. As the world leaders are moving towards blockchain, especially India, it is time for Pakistan’s administration to take notice of the current shift in technology and adopt it as soon as possible. It is the right time for Pakistan to invest in blockchain and fund the startups to encourage the resources present within the country before they are recruited by the foreigners due to lack of opportunity within their own country. It is not the time to repeat the same mistakes of the past. Therefore, ECP (Election Commission of Pakistan) must look into their election reforms and consider a blockchain powered election system.