Blockchain voting is just one of the many use cases of blockchain technology. As the world develops, the evolution of voting is imperative.
With the current voting system being so flawed and scrutinised, blockchain aims to introduce a new way for people to vote and communicate in their local and global elections.
Blockchain voting
Before we discuss the benefits of blockchain voting, it is important to understand what it is and how it works. Voting is one of the most important ways of ensuring that fair and diplomatic decisions are being made. Without voting, people would not be able to have a say on certain decisions and proposed changes. However, there are certain flaws with the current voting system that blockchain can solve.
Transparency
The first benefit that blockchain can bring about is transparency. We know that without transparency, people can become discouraged about the legitimacy of their votes and can lead to questions about tampering and falsified results. Transparency makes for a trustworthy democracy which then leads to more positive outcomes from the votes. This is why it is important that all records are accurate and kept safely. Blockchain and its decentralised ledger can bring about trust at every stage of the voting process.
By using blockchain, votes can be tallied and stored on an immutable public ledger. This means that they can be tracked and counted while being visible to everyone. In turn, by allowing voters to see live records of the number of votes coming in, everyone will be able to see the legitimacy of the voting, making for a transparent and trustworthy voting system.
Security
One of the most important factors of voting is security. Currently, voting systems are very open to hacks. Without substantial security mechanisms in place, malicious actors can enter the system and alter the outcome. This is where blockchain comes in. The technology has the ability to introduce a seemingly unhackable system.
All votes could be verified as soon as voting is finished to ensure they are all counted correctly. Without blockchain, this would have to be done by a central body overseeing the process. This causes many questions to arise about the trust of these central bodies. But with blockchain and its decentralised ledger system, there is no need for a potentially fallible or corruptible central body.
Anonymity
People want privacy when voting and don’t always want others to know who or what they voted for.
Blockchain allows for anonymity when voting. As with transactions on the blockchain, voters can use their private keys to keep themselves anonymous. They can then vote in the system without the worry of others knowing how they voted. Having the ability to guarantee anonymity might then encourage more people to take part in and use the voting system.
Processing time
Current voting systems often take time to collate and process answers. Often when voting stations are in different areas and offices are not all together, it can be difficult to gather all the information quickly and efficiently. This then leads to time and cost issues. But blockchain can transform all of this. Instead of having to wait for a large number of people to communicate manually, all organisers will be able to see the outcome instantly on the blockchain. Results can be gathered and processed quickly and straight after the voting has finished.
Conclusion
Without blockchain, the flaws in current voting systems will continue and the whole process will become increasingly outdated, lacking the security and transparency it desperately needs. Blockchain has a lot to offer the voting process, but it still needs governments and leading bodies to embrace this new emerging technology.
For guides on cryptocurrencies, exchanges, and blockchain technology, click here. Make sure you take a look at all the latest crypto and blockchain news.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.