Blockchain is one of the top trends to keep a focus on in 2018. From the world’s top banks to the latest niche startups, DLT (distributed ledger technology) has become one of the front burners as numerous companies plan their strategies to race ahead of their competitors. The next is blockchain for voting. In this article, we have shed lights on the voting aspects that can be influenced by the blockchain technology.
The blockchain technology may have been a hype merely 12 months ago, but currently is in headline news. 2017 has seen significant Blockchain transitions. The last year has experienced the blockchain uses expanding beyond Bitcoin and entering into a diverse range of industries. Now, investors and innovators have started seeing the endless potential of distributed ledger technology (DLT) to enhance, transform and disrupt markets as diverse as automation and food production.
Elections have always been subject to under-participation. Especially voting has been subject to voter fraud globally. Today, with less than half of the genuine voters turn out to the polls. It could leave us wondering how elections outcomes could vary amazingly if people’s apt consensus can be reflected.
While concerning, hot issues magnify voter turnout, irregularities in vote counting lower voters’ confidence in “the system.”
In fact, online voting is in use in approx. 23 countries to prevail over the shortcoming if paper ballot systems. However, this, as well, has become vulnerable to both technical issues and frauds.
Blockchain may prove to be the fix (solution) that governments and their citizenry have been looking for to enhance the voting. It’s because many experts think that DLT offers the four most prominent features every voting system requires, namely: Security, Transparency, Accessibility, and Auditability.
The blockchain technology‘s features like security and immutability make it almost impossible for anyone to cast an illegal or fraudulent vote, or to make alterations once it’s filed.
Since more and more people own computers or cellphones, a blockchain-based online voting system can make it easier for the majority of eligible voters to cast their votes.
Indeed, every “record” entered into a blockchain network gets a date and time stamp, as well as, a cryptographic hash of the previous block, making auditing quick and automatic.
With countries and local governments having a long and hard look at distributed ledger technology, we can presume that limited-scale implementation of blockchain voting systems will prevail in the year ahead. And we may see the implications gone with the use of Blockchain for voting.
2018 holds immense exciting opportunities for the blockchain technology and the blockchain development companies. But to succeed in this emerging landscape will not be easy. Only those who will have a complete understanding of DLT, mobile technology, and coherent regulatory compliance will rule the markets, or form new ones.
If incorporating the blockchain technology is part of your 2018 plan, Oodles Technologies invites you to reach us for a free-of-cost, confidential review of your projects. Don’t choose us beforehand, but do consider the fact that we are experts in creating robust blockchain apps, as well as, excel in blockchain technology, mobile app development, and cloud technology. We have two R&D labs to research, and to serve your outsource development requirements, globally.