There was food for thought recently on the website belonging to the World Economic Forum. In summary, the content talked about the relevance of blockchain in putting an end to the mismanagement of resources by the government.
Blockchain can help make governments worldwide more accountable and efficient. The article on the forum explained that the people being governed anywhere in the world will feel the impact of their leaders if they employ the use of blockchain.
In the Agenda section of the website, Matthew Van Niekerk, who is one of those that founded SettleMint hinted on the importance of blockchain in processing land documents.
Van Niekerk said that it is necessary for government expenses to be checked to avoid corruption. He stressed that if government actions with public funds are not met, the bad leaders will always have the chance to siphon public funds to their own businesses.
Van Niekerk thinks that blockchain is the answer because it is decentralized, meaning that no particular group of persons are hired to do the checks and balances. Those that will be involved on blockchain could even be more experienced and thorough for the job.
In his opinion, the application of blockchain will bring its decentralized ledger technology into play so as to produce more authentic reports, void of mutilation and reachable by anyone.
Three years ago, representatives from the World Bank advocated the use of blockchain to improve transparency in government.
Van Niekerk also believes that the challenges in land documentation styles can be solved at once if blockchain is introduced.
If blockchain use takes effect, Van says vices such as bribes will come to an end. Every other thing that hinders optimum satisfaction when service is rendered by government officials will come to an end too.
Among other reasons why blockchain technology is being upheld is its use in land registries. Countries that need it now include Australia, Sweden, and some in Africa. This is why some governors who have the interest of their followers at heart want to learn more about how blockchain’s DLT can do the task.
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