Puerto Rican Government Considering Blockchain Solutions To Fight Corruption
Blockchain is still a relatively fresh concept in the tech world, and new applications are being discovered by researchers and enthusiasts on a regular basis. While decentralized finance and cryptocurrencies are the center of attention, some experts believe blockchain could potentially be used to help prevent crime.
According to a recent article by CoinTelegraph, government officials in Puerto Rico are considering using blockchain technology to cut down on corruption, largely due to a number of notable corruption scandals plaguing the US territory. Just last week, Mayor Félix Delgado pleaded guilty to corruption charges, after awarding an asphalt company 50 contracts (worth $10 million total) and taking kickbacks.
House Speaker Rafael Hernandez revealed lawmakers will be conducting meetings with leading members of the blockchain community to see how blockchain could be used for anti-corruption purposes. Puerto Rico is not alone in this fight. In fact, countries across the globe, including Denmark and Kenya, are attempting to use blockchain to halt financial crimes.
While blockchain isn’t capable of influencing moral or ethical decisions, the secure nature of the technology makes certain stored data unable to be altered or deleted. This aspect is incredibly useful for documentation and verification purposes, so government activities can be easily tracked. For instance, financial information stored on a blockchain would make it easy to determine if funds have been illegally transferred. Blockchain ledgers also make it easy to see if documents have been forged or altered in any way, due to every activity being permanently recorded.
Though government officials in Puerto Rico do not have a fully developed plan in place, the collective work from blockchain developers and anti-corruption advocates across the globe will surely accelerate any potential solutions.
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Edited by Luke Bellos
