The blockchain technology used to count votes
Gyeonggi-do, the most populated province in South Korea adopted Blockchain Technology to count votes, cast by its residents on a community project. Around 9000 residents cast their votes on the Blockchain-based voting platform.
The Blockchain-based voting platform was developed by the Korean Fintech startup named “Blocko”.
This is for the first time anywhere in the world where Blockchain Technolgy has been used to count votes in an election.
How did it work?
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 the voting process but it also was able to collect and store a huge chunk of information related to voters. All the votes cast, results, information, and data were 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, a huge amount of expenses required to maintain a central management agency and the time to collect vote results can be saved. This 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 its 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, one adopted by top paid surveys. 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 the next generation of the Internet. Blockchain is today what the Internet was 20 years ago.
KryptoMoney.com suggests our readers also read the following articles related to Blockchain.