How to solve a problem like corruption?
Corruption is strongly associated with opaque, hidden transactions, distorting of documents and records. Blockchain provides transparency, and immutability. Corruption is associated with centralization and misuse of power – a strong link is observed between number of intermediaries and corruption. And Blockchain is all about decentralization. So, can blockchain help curb corruption and instill trust in public services? Possibly so.
A look at how blockchain can potentially serve as a strong anti-corruption instrument – in this 11th episode of Blockchain in Public sector series.
Welcome to the Blockchain Hustle where I take a look at some interesting plays of how blockchain technology is opening up new business vistas across multiple industries.
TIME STAMPED SHOW NOTES:
[00.17] Introduction to this episode
[01.45] Blockchain as an anti-corruption instrument
[02.27] Corruption subjects
[02.57] Registration of assets
[04.12] Tracking of transactions
[06.01] Identity management
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