Blockchain is an irreversible distributed digital ledger. Any transaction that happens on it is recorded as a ‘Block’. The information that a block contains is linked to the previous block. In this way, over time, a chain of transactions is formed in it, which is later called a blockchain.
This technology can also be used by governments to improve the efficiencies and tracing of processes. In May, the Brazilian government launched a blockchain network to reduce bribery in public spending. It is still in the development stage but it will be used by many government entities.
The India Book of Records has also provided a record of ‘Blockchain Software for Student Body Election’ to the students for this election. Professor Prabhu Rajagopal, Faculty-in-Charge at Webops and Blockchain Club, said that this student-completed project has the potential to positively change the way elections are conducted.
According to officials, the benefits of conducting elections through blockchain technology include things like cost reduction, tamper-free process, which will also increase public confidence in elections.