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Javeria
Jan 20, 2020
by Javeria

Blockchain Technology Can Prove To Be a Perfect Aid For Governance in India

Blockchain Technology
The Indian government is focussing on preparing a strategy to increase nationwide use of Blockchain technology as per the latest report. The aim is to make use of the distributed ledger technology to improve governance. The report suggested that the use of blockchain will bring automation, audibility and transparency in the governance process and will be cost-effective as well.

With a wide range of application, Blockchain, which is the core technology of Bitcoin and altcoins has emerged as a groundbreaking innovation. In simple words, Blockchain is blocks of data together linked in a chain. Everything is recorded on the blockchain ledger, and one can go back through time to check any recorded data right from inception.

Benefits Of Blockchain Technology

The two significant advantages of Blockchain are related to the cost of verification and the cost of networking. This can benefit the overall system by cheaply verifying the attributes of a transaction as well as helps in bootstrapping and directing a marketplace without needing a traditional intermediary. Moreover, Blockchain can also be used to improve digital property rights as it can represent the exchanges of currency, equity, properties, information and even digital assets and other types of contracts.

One of the benefits of Blockchain is its immutability. Blockchain’s ability to declare the truth without a centre of authority is something that can be beneficial for governance.

Blockchain In Governance Seems An Attractive Proposal

Blockchain network will verify the transactions correctly and without any flaws and also prevent the ledger from interfering with the mathematical mechanism. This is where the shift takes from trusting people to trusting mathematics.

Keeping in mind all these astounding benefits of Blockchain technology, its use in governance can be seen as an attractive proposition. According to the father of the public sphere concept, Jurgen Habermas, the liberty of expression and discussion are the two conditions necessary in building a public space as a force of integration which is fulfilled by Blockchain.

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Blockchain Technology Can Prove To Be a Perfect Aid For Governance in India
Javeria
Javeria is into the crypto world ever since she heard about it and is pursuing her interest through cryptoknowmics. She is a sensational poet, technical writer and content strategist. Not to mention that she can go crazy when it comes to vampires and Wonder woman.

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