What is the role of blockchain in enhancing transparency in governance? 🔊
The role of blockchain in enhancing transparency in governance is critical, as it provides a decentralized and immutable ledger for various public records, including voting, land registration, and fund disbursement. By ensuring that all transactions are publicly accessible and verifiable, blockchain reduces opportunities for corruption and fraud. Governments can utilize this technology to enhance accountability and build public trust. Additionally, the use of smart contracts can automate compliance and regulatory processes, thereby streamlining operations and enforcing transparency throughout governance systems.
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