The executive said that blockchain is a panacea to solve the problem of corruption in national governance

The transparency, fairness and efficiency of the government system are the main areas where the blockchain subverts public governance.

Matthew Van Niekerk, co-founder and CEO of Blockchain-as-a-Service company SettleMint, wrote for the WEF global agenda section, highlight How to use blockchain to improve public procurement and land registration.

Van Niekerk believes that public procurement is one of the main channels for government corruption and waste. As part of the report, the CEO of SettleMint argued that the closed nature of the process encourages illegal interactions between public officials and private companies.

Van Niekerk speculates that the use of blockchain can promote a more open public procurement system. According to this article, this larger group of participants will come from a “broader coalition of stakeholders” outside of government parastatals and private companies, such as standards organizations, consumer protection watchdogs, and the media.

For Van Niekerk, the adoption of blockchain will use decentralized ledger technology to provide “easy access, tamper-proof, and real-time windows” for the “ongoing procurement process.”

As early as October 2018, a report by the World Bank Group stated that blockchain is a viable tool Organize government procurement agreements within the globe.

related: Australian Senate committee calls for the establishment of a national blockchain land registry

In terms of land registration, Van Niekerk pointed out that blockchain is a possible solution to the inefficiency of the registration ownership system.

According to Van Niekerk’s article, a blockchain-based registration system will help eliminate bottlenecks in land transactions, thereby eliminating the need for bribery and other illegal activities needed to speed up the process.

The land registry is indeed one of them Ubiquitous application cases of blockchain technology within the globe.From Sweden to Australia Even in African countries, state governments are seeking to adopt distributed ledger technology in land registries.