Paper to digital: Raipur shows the way to using blockchain for citizen services
Blockchain technology, the foundation of cryptocurrencies, has diversified its applications beyond its original financial confines. It acts as a digital ledger that is unique in its ability to securely record data in a manner that is both transparent and immutable. These features contribute to reducing fraudulent activities, providing a layer of data privacy using zero-knowledge technology, and maintaining the integrity of the records.
While blockchain technology was originally designed for cryptocurrency transactions, its versatility has led to its adoption across various sectors. Financial institutions use them to keep internal records and protect against fraud. A bank employee cannot falsify entries on a blockchain, or delete it.
The UN’s High Commission for Refugees uses blockchains for direct benefit transfers to ensure a refugee does not claim benefits more than once. High-end jewellers use blockchains to authenticate products. The history of ownership of a designer piece of jewellery can be recorded on a blockchain.
A thief who steals the jewellery cannot prove ownership, and a forger cannot put an imitation piece onto the blockchain. Municipal corporations in Finland and Estonia use blockchains to ensure urban projects meet satisfaction. For instance, a sewage project is supposed to service 100 households.
A blockchain can be used to solicit the households’ opinions and the project is deemed completed and payments made automatically only when all users have said they are satisfied. Back home, RMC and Airchains are putting old records on the blockchain. New building permission certificates will be issued with blockchain QR codes.
Read more on livemint.com
