Blockchain technolgy used to count votes
Gyeonggi-do, the most populated province in South Korea adopted Blockchain Technology to count votes, casted by it’s residents on a community project. Around 9000 residents casted their votes on Blockchain based voting platform.
The Blockchain based voting platform was developed by the Korean Fintech startup named “Blocko”.
This is for the first time in anywhere in the world where Blockchain Technolgy has been used to count votes in an election.
How did it worked?
The Blockchain based platform to count votes was an online platform developed by Blocko, which used Smart Contracts enabled technology to facilitate the casting of votes. Blocko, the developer claimed that the Blockchain based platform to count votes was developed in-house. Not only the platform helped in voting process but also was able to collect and store huge chunk of information related to voters. All the votes casted, results,information and data was stored on an immutable Blockchain-ledger that is tamper-resistant.
The platform completely removed the necessity of involvement of any management or central authority to take care of the complete voting process. All the credit goes to Blockchain!!!
Also, by using Blockchain technology in online voting, huge amount of expenses required to maintain a central management agency and the time to collect vote results can be saved. Which means Blockchain enabled voting will not be fast and efficient but also cost reducing.
After all of this,South Korea is now applying Blockchain technology in it’s insurance sector. (Click here to read the full article)
The whole world is experiencing a revolution that Blockchain has created. It is being applied and tested in most of the sectors and is giving wonderful results. Blockchain will reduce human intervention, increase speed and efficiency and will reduce the cost and any kind of corruption to change the data.
This is why Blockchain is considered to be next generation of Internet. Blockchain is today what Internet was 20 years ago.
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