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The Puerto Rico authorities just lately confirmed curiosity in utilizing blockchain technology to fight corruption. Home Speaker Rafael “Tatito” Hernandez confirmed that lawmakers plan to fulfill with native blockchain specialists this month to create good contracts that goal to carry extra transparency and accountability to the sector.
In these conferences, they’ll talk about the right way to undertake blockchain know-how for anti-corruption functions. Based on Bloomberg, Hernandez spoke concerning the latest growth on anti-corruption at a Blockchain Commerce Affiliation Convention.
Hernandez stated implementing blockchain and good contracts may carry extra transparency and accountability to the general public sector. “Now we have an actual credibility downside,” he defined. “And this could be a part of the answer,” he added.
Hernandez additionally famous that this innovation is a broader effort to make the nation a hub for digital belongings and blockchain improvements. “Again within the 60s and 70s we had the area of interest of producing…This can be a new area of interest, a brand new alternative to create jobs,” he stated.
Puerto Rico has been concerned with corruption scandals lately. Lately, Cataño Mayor Felix Delgado-Montalvo pleaded responsible to fees of gathering money bribes of greater than $100,000 and luxurious watches from corporations in change for municipal contracts.
Blockchain & anti-corruption efforts in different nations
Extra nations are combatting anti-corruption with the usage of blockchain know-how.
The United Nations drug and crimes company has advised the Kenyan authorities to utilize blockchain for anti-corruption functions. David Robinson, the regional anti-corruption advisor on the UN’s Workplace on Medication and Crime, stated that applied sciences like blockchain would assist Kenya forestall the lack of billions to deprave practices and crimes within the nation.
Additionally, the Ministry of International Affairs for Denmark revealed a report explaining the use of applied sciences corresponding to blockchain, large information, crowdsourcing, and e-governance to deal with administrative corruption and political corruption. The report acknowledged that blockchain could possibly be used as an anti-corruption device as it could possibly retailer information transparently and immutably.
Regardless of some nations’ efforts to leverage blockchain know-how in fixing corruption, Russia prohibits authorities officers from utilizing digital belongings attributable to unlawful actions.
Watch: CoinGeek New York, Investigating Legal Exercise on the Blockchain
New to Bitcoin? Take a look at CoinGeek’s Bitcoin for Beginners part, the final word useful resource information to study extra about Bitcoin—as initially envisioned by Satoshi Nakamoto—and blockchain.
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