When people think about BLOCKCHAIN, the first thing that comes to their is "blockchain is a processing technology for transparent payment" or a wallet for storing BITCOIN or cryptocurrency" ., but blockchain is much more than just a payment technology.
Blockchain can be said to be the success and backbone of bitcoin and altcoin. Blockchain was originally created as a decentralized distributed database for the bitcoin network and now it has seen lots of improvements.
So, the blockchain is a giant open source spreadsheet that runs on different computers all over the world. the code of this technology is open for anyone to change or improve on.
Blockchain uses state of the art cryptography to store records of transactions, records of land ownership, records of goods bought, records of who voted in an election etc. All these records are done within seconds (depending on the blockchain) and banks cant currently do that.
The distributed nature of blockchain documentation makes it unhackable and transparent. this quality makes it trustworthy for use in any industry.
With blockchain's trust, you can make transactions with someone else in another country without getting to know who that person is by using smart contracts. you can even carry out anonymous transactions with some anonymous cryptocurrency.
BLOCKCHAIN WILL REDUCE RIGGING OF ELELCTION IN AFRICA
Africa has one of the most corrupt leaders in the world and this is because most Africans were too ignorant to go into politics after their independence. even as we are today, most Africans still don't know their rights. But how did these corrupt people manage to still remain in power? they did this through election rigging.
one of the way out of election rigging and right now is through the use of blockchain for election. With blockchain tech, all votes cast will be visible for everyone to see and the result will be published with speed.
One of the first countries in the world to use blockchain technology for election is Russia. details here and I believe this is just the beginning.
The only way Africans make this type of electoral system come to pass is through knowledge. Millions of Africans still don't know that blockchain is and how it will help politics in Africa, the only way they can collectively agree for this type of transparent election is through blockchain education or awareness campaign and that is what we at has been doing through our several meetups and conferences.
Africans don't know there is a solution to corruption during an election and it is our duty (those who knows about blockchain already) to make this technology known to our people. asking them to pay for a seminar to learn about the use of blockchain will not be the best option for now. so once in a while, we hold free blockchain seminar for university students to teach them about blockchain and its uses in our community and different sector of the economy.
I believe in the future of Africa and I believe with the introduction of blockchain tech, our political sector will be free of corruption soon.