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Since time immemorial, the voting system has been shrouded in intense secrecy, a fact that has made it possible for the results to be rigged. The system can only be accessed by a few people who have been mandated to preside over the process and another few who are responsible for oversight and quality assurance. However, as it can be attested by scenes of intense disagreement and pockets of violence after the results are released, the few people are either incompetent or they are part of a large conspiracy to rig the elections. It is in this light that the distributed ledger technology is being leveraged to fix the system.

Accuracy of data

The most appealing feature of the blockchain technology is that once data has been saved in the system it cannot be altered by even its authors. This is on account of the database that is shared and synced over a network that is spread over multiple sites. This means that ones the data reflecting the vote count has been stored, there is no chance of an alteration. This away, the security of the results that are released at the end of any voting exercise is guaranteed.

Decentralised

Traditionally, elections have been carried out by a central body that is legally mandated to preside over the exercise. With the mandate comes a lot of discretion in its hands and the body can easily be misused by participants with malicious intent. Conversely, the blockchain technology eliminates this centrality of authority while at the same time presenting a user friendly voting system. A voting node can be placed at each polling station. This means that it is quite easy for people to participate in elections even when they are so far away from their home country. All that will be needed will be a good internet connection and a device that access the internet. Various blockchain platforms are in this race to provide a voting platform across the globe even as they develop digital tokens. Therefore, it can only be hoped that the many instances of election fraud and the ugly aftermath can be a thing of the past.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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