Blockchain Overcomes Corruption: Towards Smart Institutions and Governance

Abstract

e-government services have evolved significantly over the past decade from paper Bureaucratic procedures for digital services. Transactions processed electronically require limited physical interaction with the public authorities, providing reduced time response, transparency, confidentiality, and integrity. Blockchain technology enhances many of the above characteristics because it facilitates the stability and transparency of recorded transactions and could help with building trust among the participants [1]. In this paper, a smart accounting system for public institutions (municipalities) with Blockchain technology prevents wasting public funds, and citizens become combative of corruption and waste of public funds when being informed of government projects implemented by municipalities through this system.