Blockchain sure is a fancy word to look at but it is not so fancy to learn about. This is something that has created a buzz around the market for a long time. You might hear people talking about the tons of applications that use blockchain. There is a good chance that in the coming future that blockchain would be the sole foundation of every daily activity we perform. There are so many questions that create a cloud in your mind about blockchain but the one that mostly keeps brains awake across the world is that how can blockchain be potentially used in political elections everywhere. Well, you are in luck if you are finding the answer to this question. But before we begin any further a quick recap oh how the things run around a little bit around the concept of blockchain.
Blockchain is nothing but the records that are stored in various databases. Now there is something surely special about those records. For instance, these records are immutable that means the time in which the record or a transaction was created nobody can change that because it has that imprinted on it. This also means that nobody could tamper with your information. All of these records are joined together to form a chain connected to the next node in line. Also, the biggest reason why blockchain has become such a huge star in the cryptocurrency industry is that no third parties are involved which means that to whomever you make a transaction only that particular person and you can view the amount and all the details associated with it. Blockchain can be very complex to understand but is also the easiest once you understand the basics behind it. The use of blockchain is now known to many work areas that some of them have even started using it. The major use of the blockchain is cryptocurrency. All of us have heard about the bitcoin as it is the news nowadays. Bitcoin was first created by a group of people who are not yet known but they go by the name Satoshi Nakamoto. It came into play first in 2009. Ever since bitcoin is used as an investment by some and a mode of the transaction by others. One bitcoin is about $11,300. That is a pretty big amount. The basis of a bitcoin is blockchain. A file is created in your e-wallet or computer which is stored in a public blockchain. After the transaction is made nobody has access to alter it. Not even you. The timestamp is generated and it always stays on it.
The major question for us is not about the bitcoins or any other thing today. It is how will the blockchain be helpful in political elections?
The answer to this question is very much alike to the answer you would get if you were investing in bitcoin. Bringing blockchain to the polling stations or the political scenarios would mean promoting a democracy. Countries may claim to be a true democracy but no one knows what happens behind the closed doors. If the blockchain was brought into political elections, the votes cast cannot be changed by anybody. The whole system would become as transparent as water. Blockchain is just not limited to money it can be used to store files. And since it draws its power from the nodes it is impossible to even try to make any changes to your own choice. The blockchain system runs entirely on the concept of nodes that means it is immune to breach. Any hacking activity on the terminal would be useless because he cannot alter other nodes. In this way, the votes that would be cast have to stay the way they were.
The political system for most of the countries has been corrupted and this is not something that is hidden by the public we just choose not to raise our voice on that but the use of blockchain in political elections would empower everybody to take part in the elections and help the nation.
Now the blockchain technology may be amazing but it still has some points that might make you take a second thought on the same.
Blockchain is extremely volatile. It is a technology that was developed online and you have no idea when it might vanish within a blink of an eye. It would twice as fast as it came into existence. Also, there are no third parties involved, no government intervention but you never know while you are not being monitored you might be making an illegal transaction throughout. Blockchain is immune to hack but it is not so immune to potential fraud or crime. The whole process of cryptocurrency using blockchain or even the votes in an election is a big headache. Since it cannot work on every platform you have to learn ethereum and blockchain environment which is not an easy job. Nevertheless, blockchain has proved to be one of the few things that we will be seeing in the future more often as the advantages that come with it are endless.