Bribery gets blocked: Stamping out corruption with blockchain tech

[Lenipiw]

In a world where all public records are stored on an immutable ledger, it would be difficult to be a corrupt government official. Some of the main functions of government institutions include redistribution of resources and maintaining official records. These are precisely the domains where blockchain technology — with its focus on facilitating secure, traceable transactions and maintaining immutable records to build trust — is well-positioned to make a strong impact.

A recent report by Denmark’s Ministry of Foreign Affairs is the latest to highlight blockchain technology’s potential to serve as a powerful tool in the fight against government corruption. This proposition, however, is only the latest in a long string of policy proposals and analytical reports that document the immense promise that distributed ledger technology holds for government-transparency advocates — as well as the many limitations that its implementation will inevitably face.
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