Secure Future Through Blockchain: How Well Can India Use it

A major concern that citizens across the globe share is that of corruption. This is possible by incorporating a blockchain-based platform which bridges the gap between vendors and the government and also provides for enhanced accountability by concurrent oversight over operations. A similar set up was adopted by the Colombian Inspector General’s Office and the Inter-American Development Bank, wherein they created a public, permission-less Ethereum- based block chain procurement system. The system enabled vendors and tenders to conduct the vendor bidding, while also allowing third parties such as journalists and citizens to monitor and flag risky activities in real time. The software included several automated features such as minimum bidding and automatic “red flags” to alert the Colombian Inspector General’s Office regarding a potentially corrupt activity.