Page 35 - Banking Finance July 2021

ARTICLE

OPPORTUNITIES

AND CHALLENGES

OF BLOCKCHAIN

FOR E-VOTING

Introduction In the African countries of Uganda and Kenya there has been
widespread controversy over their elections in recent
The persistent pandemic has forced every industry to
innovate their use of technology and find new ways of years.In today's setting, finding contactless alternatives to
running the business with minimum disruption. Challenges in-person voting has become important. People are
with conducting elections during these uncertain times are supposed to trust the result which is provided by an Election
not any exception. commission or a government body ensuring the election
integrity and safeguarding its outcome even when remote
voting becomes the new normal.
Traditional voting predominantly involves people standing in
long queues in front of their designated polling stations and
exercising their franchise using paper or electronic Technologies such as Blockchain have several inherent
ballots.People have had their human rights compromised technology capabilities that are conducive for holding secure
and their fundamental freedoms provided by their and yet transparent elections.
constitution taken away. The pitfalls of the current system
of ballot voting are being taken as an advantage by people In the last couple of years, Blockchain has supported several
or organizations looking to gain power. elections, from Sierra Leone in 2018 to Russia in 2020. The
US Postal Service (USPS) has applied for a patent for a
Blockchain voting system.
About the author
The USPS is reportedly contemplating Blockchain as
N. Gopala Krishna Murthy anamicable option for managing the mail-in votes that are
Chief Manager & Faculty expected to surge during the upcoming elections, due to the
SBIIT, Hyderabad
increased number of voters choosing to vote remotely.

BANKING FINANCE | JULY | 2021 | 35