As an evolving technology, blockchain is now largely gaining in popularity. Even though it was introduced as a secured platform for cryptocurrencies, now blockchain is being used in many spheres for its functional capabilities. Blockchain inception was associated mostly with the success of Bitcoin. Over time, blockchain has become independent, and with the big growth of Bitcoin, the awareness about blockchain as the most unique and mysterious technology behind it also grew. Individuals including researchers, developers, and engineers also started recognizing the real value of blockchain technology and are attempting to create many new use cases.
Many of these researchers believe that the actual power of blockchain lies in improving the old systems. However, the enterprise observers had always believed in the potential of this technology from the very beginning as Bitcoin started offering a highly transparent and secured payment system compared to other existing modes. These same people are using blockchain to revolutionize the markets all over as of late. It is now being used in smart contracts, cloud storage, crowdfunding, healthcare, etc. One major use case of blockchain where there is a lot of research and development is secured voting. In this article, we will discuss blockchain-based polls, but before moving to it, let us explore how the voting systems work.
Digital voting system works on electronic devices which are interconnected over the internet. The voting systems may consist of voting machines, a storage service, a voting interface (usually internet browser-based) to cast votes, a counting interface, etc. One of these systems is called e-voting, in which a voting machine is used at the polling station, and another method is known as i-Voting, in which the voting is done over a web browser.
There are many places where digital voting is used now, but the security of the same is always a concern. However, blockchain-based technologies are found to eradicate the challenges of e-voting security to a large extent. Blockchain primarily acts as a digital ledger that draws the power from different nodes on its primary network to process, authenticate, and record transactions on a system. It is important to consider that these ledgers are not stored anywhere but are part of a chain supported by many nodes simultaneously.
Blockchain is secured voting.
There are many experts now working to introduce blockchain into voting. One real-time example of the blockchain-based vote is Horizon State, which has introduced a very interesting solution to answer a question like “If democracy is designed for today’s technology, what it may be like?” The secured ballot box will present an intelligent solution. The participants can decide tokens for casting their votes from anywhere using their laptops or smartphones. All these diversified devices are logged into a blockchain network and used to verify the election results. There is no chance of any manipulation, tampering, or errors with this approach.
More than simply voting, such a system will also be beneficial for making informed decisions by sharing authority and resources. This will also help encourage people to start using such methods more and more. The database to support blockchain voting is also highly secured. When it comes to choosing secured databases for enterprise DBMS, you may consult RemoteDBA.com to get expert advice.
Another real-time example is Voter Apathy, a company that observed a drop in the number of people casting their votes, even if it is very important to do. So, by putting forth an easier and secure voting mechanism from their laptop or smartphones, the number of voters is likely to increase largely. Even governments have a very strong reason to change the status quo. With the present physical voting mechanism, casting a vote cost about $7 to $25. However, this may be reduced to about fifty cents per vote with blockchain.
Blockchain-supported elections are supported largely in real-world use cases. Back in 2018, the Thai Democratic Party, which is the oldest party in Thailand, had conducted an election for their new party leader by leveraging the technology of ZCoin, which was one of the largest elections held with the assistance of blockchain. Nearly about 127,400 votes were cast in this election held across Thailand.
When it comes to voting, it is always controversial. There are, in fact, many questions about blockchain voting too. However, the citizens’ votes are very secure through encryption and decentralization as far as it is proven. The technology also allows for verifiable and transparent records, preventing anyone from tampering with the voting systems or manipulating the results.
Overall, blockchain will limit security concerns and let the voters submit their ballots online from the comfort of their homes or workplace. It is also possible for the voters to cast their votes anonymously without revealing their identity to others. All these measures will help strengthen the democratic voting mechanisms further.
Blockchain-based voting lately has largely secured people’s trust in voting validation and can reveal the parties’ actual strength. While voting is becoming much simpler and easily accessible through personal electronic devices, the voting outcome is also highly secured. The voters may also become positively overwhelmed by the convenience it offers.
So, blockchain is now paving the way to a very fine and convenient form of secured democratic voting administration. In this approach, people can decide the policies independently rather than depending on the third-party representatives to do it on their behalf. While the rules of a standard election may be needed to be changed into a more transparent mechanism, blockchain may also be ideal for making better business decisions, polling, censuses, and conduction of general meetings, among many other such things.
Along with secured voting, there are also numerous other for blockchain technology. It can efficiently manage a constituency, which is important for the future administration of the society. It is not only to deliver a reliable and transparent result through voting, but it can also push citizens to participate effectively in democratic decision making. Blockchain is still in the nascent stage as a technology. Still, with all the discoveries we may expect in the future, this technology will take centre stage in humanity’s collective future.