Governance

Systems running around policy makers of the nation should always be secure and transparent.

Governance is the most important sector amongst all, as it is majorly responsible for the safety and sovereignty of the country. However at times, it becomes the most vulnerable sector leading to difficulty in management. Government is responsible for a vast storage of records, hovered across multiple industries that function in the country. All of these records maintenance and storage are based majorly on a centralized system.

Most of the data in developing nations are stored in hard copies which ultimately leads to data intrusion, and definitely a high cost and time involvement. It’s a prime requirement to digitize the entire government operations and make it more efficient, reliable, transparent and securely distributed.

Blockchain definitely helps achieve that, demystifying the interoperability and making the system highly trustworthy.

Some of the major Issues in Governance sector in the conventional system

Lack of Interoperability

Interdepartmental communication and operations rely mainly on documentation. When the documentation is disorganised and non-digitized, it hampers accessibility and generates an eventual delay in decision making.

Lack of Reliable and Secure Digital System

Technological implementations in many areas of governance are not as secure and reliable as expected. This leads to various vulnerabilities , majorly raising data loss and counterfeiting issues.

Complex Identity and Asset Management

Digitizing the citizen identity is a global benefit. Also, securing the crucial assets’ (land and other relevant properties) information system is the need of the hour. Current conventional systems aren’t highly capable of governing the identity and asset management completely.

Data Integrity and Data Consistency Concerns

Nation’s data is highly significant and confidential. It’s important that the data is up-to-date with accurate details. However as the system of data analysis and updates is weak, the data integrity and data consistency concerns are raised.

Overall Arduous management

Lack of accountability and real time data accessibility leads to delay in decision making and definitely involves unnecessary cost and time. Moreover a vulnerable system invites corrupt operations and leads to complex inter and intra departmental functioning. Even if the governance is digitized, an improper IT implementation leads to an overall arduous system.

Partners involved in Smart Contract for Governance

Blockchain smart contract partners in the governance system would include Government, Ministries, Depeartments, various public and private sectors,stakeholders, and most importantly citizens.
With the consensus of partners involved, everything will be recorded and updated on the blockchain. Any change in the records are time stamped and broadcasted to all the involved authorized partners. This ensures a highly transparent and secure governance system, helping the nation progress by leaps and bounds..

How Blockchain can help overcome the issues and improvise the system:

Blockchain will help envision a world of secure governance and global digital identification.

Decentralized permissioned data ledger

A distributed and decentralized data ledger of governance confidential and public data will be maintained on the blockchain with only permissioned accessibility. This ensures security and easy maintenance of the data.

Achieving data integrity and consistency

Timely data update with timestamp and assurance of accurate information, helps make the system reliable. Blockchain with the aid of AI and IoT, would create a system with high data integrity and consistency.

Increased and Improved Interoperability

The inter and intra departmental operations would become smoother when the system is built on blockchain. As the communication and trust gap diminishes, the system becomes more accessible, and less vulnerable, not just for the governance stakeholders but for general citizens as well.

Smart Identity and Asset Management

The citizens’ identification data and public and private sectors’ assets data are the most important of all, and covers the majority of data involved in the governance system.
Blockchain technology would create a smart and evolved digital identity and asset management system that would be accessible globally and securely.

More transparent and secure system

As the system is built on blockchain technology, there will be clear transparency in the governance operations. General citizens can have authorized access and understand where their involvement is happening and what their taxes are incurred upon. This generates enormous trust of the citizens on the government. Also, a highly secure system would ultimately lead to a big fall in corruption percentage, eventually making the nation progress.