Feb 16, 2020 22:45 UTC
Feb 16, 2020 at 22:45 UTC
The growing demand for Blockchain technology is in pretty much neat shape. Many companies and countries are in the growing demand for blockchain technologies to give their shot with blockchain to develop the present financial conditions. Now many countries are lying in the pipeline to roll out the blockchain technology into their financial streams and many have succeeded in rolling out their very own successful cryptocurrencies.
Why it so sought after?
One of the most important reasons as to why the companies and countries are looking forward to it is because of the improved sustainability and capability of the technology. There are a lot of developments in the space and with growing demand, it is getting increasingly competitive.
Can India pull this off?
These sorts of technologies are now available to see in many of the growing countries, especially countries that are trying to develop their financial backgrounds. India recently made the radar with their recent announcement of the introduction of the blockchain technology. According to the announcement, India is planning to recondition their technologies to conduct future elections that are to be held in the country.
According to the sources, the Country’s election commission is trying to implement the blockchain-powered voting system with the help of the great minds of IIT Madras, one of the elite institutions in the Country. According to the collaboration, the Election commission of India is joining hands with the institution to develop a two-way electronic voting system that is backed up by the blockchain technology.
The biggest breakthrough that the election commission of India is looking forward to is to make sure that all the eligible voters must vote no matter the physical barriers that an average voter of India faces.
Taking into account the numbers, the Indian Election loses on an average of nearly 25% of voter count due to the non-accessibility of the home constituencies. This majorly brings losses to the commission that could easily be avoided.
A lot of goodies under the roof
To make sure such situations don’t arise, the Indian Election commission is planning to bring the blockchain technology into the two-way sophisticated voting system. With the system in action, the voters can vote wherever they want and are not forced to vote in their home constituencies. The Indian election commission says that with this system in practice they can curb many other problems as well with the implementation of the system.
The implementation of such a system will give the country a chance to experiment even more with the blockchain technology.