Over the past few years, technology has been becoming an integral part of our lives. Blockchain, a technology that created cryptocurrencies like Bitcoin and Ethereum, is gaining plenty of attention from different industries because of its privacy and transparency. Already making a big hit in gaming, banking, and healthcare industries, blockchain has the potential to revolutionize our voting systems as well.
The founder and CEO of Intercoin, Gregory Magarshak is working on tools that will empower the people and local communities when it comes to voting. The use of blockchain technology comes as a response to the recent failures of apps that claimed to secure election data, but they leaked millions of voters’ data in Israel.
With this incident, we learned that technology used by inexperienced, smaller contractors can cause massive loss of confidential information. Also, with the onset of the Corona virus pandemic, people are concerned about sharing voting facilities. Thus, we can expect the rise in hiring voting bots developers in the future.
In this post, we will look at the benefits of blockchain-based voting over traditional voting. However, before we delve into the benefits, you must know what is blockchain voting and how it works.
The final solutions that can secure election systems are crypto and Byzantine Consensus. However, the widely adopted cryptocurrencies like Bitcoin and Ethereum aren’t scalable enough to deal with millions of votes or payments, all at once. Therefore, new generation open-source protocols like MaidSAFE, Intercoin, and Holochain have proven secure and scalable platforms to handle voting and payments at a large scale.
One of the major benefits of using blockchain technology is transparency. Based on the previous failures of voting apps, today, people are a bit skeptical about choosing any new technology for voting, especially if it lacks transparency.
Therefore, by using blockchain and its decentralized ledger, people can track as well as count the votes that are stored on an immutable public ledger.
Security is one of the essential components of voting to make fair and diplomatic decisions. But most of the voting systems available today are easier to hack. Fortunately, we have blockchain technology, which comes with the ability to make a voting system seemingly safe and difficult to hack.
Apart from this, blockchain technology also allows people to maintain their privacy when voting. They just need to use their private keys to cast their vote.
Whether you want more details about blockchain-based voting or want to develop a decentralized app for your business, Steem Experts is your best bet. We house a team of Steem bot developers who specialize in offering solutions like building DApps, marketing bots, and more.