The ability of Blockchains to upgrade existing systems is responsible for the increasing popularity of the technology, which was created, owing to the development of Bitcoin. In the recent decade, developers have identified the potential of Blockchains.
They are trying to put them to good use in various industries, including the Medical industry to the Financial industry. One of the most crucial properties of blockchains is their immutability, which makes them very secure compared to conventional applications. This feature of the Blockchain can also be utilized to mitigate voter fraud.
Let us delve deeper into this topic and understand how the idea came around and whether this idea is feasible or not. For more information about blockchain and cryptocurrency, you may consider visiting a reputable link.
Blockchain, as a Utility to the Voters
If you zoom into the basics, a Blockchain is nothing but a distributed ledger supported by the peers or nodes connected to its network. The transactions or records existing on the Blockchain can not be readily modified.
The decentralized and encrypted nature of the Blockchain ensures that it is not corrupted easily, as the records can be easily verified from any one of the innumerable nodes available on the network. Blockchains are not only capable of transmitting data of financial sort. This technology can be used to enhance the modern voting processes as well.
Every process has advanced, owing to the technological advancements during the recent decades. However, in order to vote, people still have to cast their votes by submitting paper ballots.
This leaves a lot of space for unfair play, which can also result in the swaying of decisions. Attempts have been made by officials to carry out this process over the internet. However, the security gaps are responsible for the lack of trust in online voting.
However, Blockchains can effectively take care of this issue, as a hacker will only be able to change data available on a certain node on the Blockchain, while the others are left untouched. This would stop the possible tampering of data, which leads to voting fraud.
Blockchains can enable voters to cast their votes without revealing their political interests and choices to the public, which also protects the voters’ privacy. The results obtained by counting votes cast on the Blockchain can be trusted blindly, as multiple votes cannot be made from one node, and the tampering of data available on the Blockchain is impossible.
21st-Century Elections Powered by Blockchains
Companies are attempting to apply the concepts of Blockchain to voting, and Horizon State is one of the first companies to have found a solution to this issue. The company is set to release an initial coin offering, and it claims that its first product will solve the gaps that online voting poses to the integrity of results.
In order to cast a vote through the digital ballot, decision tokens (HSTs) are to be used. PCs and phones can be used to cast votes, which will be connected to a secure blockchain, which will further be used to determine and verify the outcome of the voting. No tampering with data is possible in this case, which makes it a feasible choice to be utilized for voting in the 21st century.
Blockchain technology embraces and enforces the idea of democracy, as the implementation of Blockchain in the voting procedures will eliminate the need to depend on authorities to count votes. This makes voting over Blockchains even more credible.
The incentive for the government to utilize this technology can also come from the fact that traditional ballots cost from $7 to $25 while voting over the Blockchain would only cost $0.5, which would allow the government to save a lot of money.
Blockchains not only enable the trading of cryptocurrencies such as Bitcoin but also prove to be useful in other industries. Blockchain technology can also be utilized to mitigate voter fraud, and it can be stated that the encryption and immutability of the blockchain technologies are the main reason behind its utilities.
If voting is done and records are kept over Blockchains, it will be almost impossible for hackers to tamper with the data, which would further enhance the integrity of results. Governments must invest in developing blockchain technologies that can enhance and secure voting procedures. This will lead to more accurate and fair voting results.