While the world has reached the moon, one thing that still lacks innovation is the customary voting method of paper ballots. However, experts are now looking for a change to bring innovation to such old-house electing techniques.
And blockchain seems to be the perfect fit here. Since blockchain is the new favorite and every industry has been embracing it as of late, blockchain experts are now entering the elections and voting world.
Although blockchain has taken over the world, most people are unaware of its decentralized workings. Here’s a brief intro to how the blockchain network works.
A blockchain is actually a distributed or shared database where all records or transactions are stored. The best part is that it is open to all the participants to see its records. This makes it all the way more transparent than any other ledger or database since all the transaction history is auditable in a blockchain.
Since it’s decentralized, there is no central authority in a blockchain. How this technology works is that the information or data is stored in the form of blocks that have a specific order. It’s designed this way so that no one can alter or make changes to the transactions.
Blockchain in Voting Systems
Elections have always been known for fraud. Ever since the democracy started, there have been no 100% honest elections. Most of the political people want power and authority and this gives birth to all the election frauds in order to turn the tables in their favor.
So, what’s needed is a more promising voting system that eradicates all such problems. Seeing the huge success of the blockchain network in a number of fields, the voting experts have also started to see huge potential in using blockchain for election purposes.
The True Democracy
The election system equipped with blockchain will lead to foolproof voting, resulting in a true democracy. Here we have listed some of the benefits that come with blockchain elections.
- The first and foremost benefit is that of transparency. Transparency is one of the most important aspects of voting which should be exercised without any central power. Voters should know that their vote went to the right place and they should be able to see the process throughout. Blockchain takes care of this perfectly as everything recorded on a blockchain is auditable.
- The next big benefit would be that of cost reduction. Shifting elections to blockchain will not only result in a neat and clean execution of voting processes, but it will also have a cost-benefit effect. The traditional elections are costly due to all the resources including human resources as well. However, all the costs put into such resources can be reduced by shifting to the blockchain.
- Along with other drawbacks, the traditional voting system is also a hectic and lengthy one due to all the vote counting and the human force required for it. Blockchain elections will also streamline the voting process along with numerous other assistance.
- Blockchain voting will also result in minimizing errors, for instance, human errors. This will result in all the votes being counted and in return, having a fair election.
Wouldn’t it be great if governments all over the world started using voting systems equipped with blockchain? This would result in a fool-proof election and eventually lead to an end of corruption all over.
But this needs a lot of work and since the blockchain voting system seems quite potentially powered, we hope that governments will soon put it into motion