Cryptocurrencies have popularized the use of a digital concept called a blockchain. These blockchains can be used to track transactions and increase accountability of shared networks. If this sounds familiar, a few months ago we looked at how blockchain technology can be used to track physical items.
Citizens around the world have been losing trust in their in governments. Certain parties are getting elected that increase corruption, or at least, make it look like those in charge are running a kleptocracy. This leaves the average person distrusting of their government, maybe using blockchain technology this trend can be reversed.
Tillemann believes blockchain could play a big role in improving trust in government, improving bureaucratic efficiency, and maintaining integrity of public data, from vote counts to land registry titles. (We discussed several other social impact applications for blockchains here).
“The critical challenge facing society right now is the breakdown in trust in institutions,” he tells Fast Company. “Blockchain was designed from the ground up to address that, creating systems that are highly secure, highly transparent and resistant to corruption.”