ForexMinute.com – Denmark might be the only country that has always been open regarding its crush on digital currency Bitcoin. The nation previously made the gains achieved through Bitcoin tax-free. This time, it has taken a further leap by using Bitcoin’s block chain technology in voting.
Not a rumor indeed as Danish-based political party ‘The Liberal Alliance’ has itself just declared their interest in the sophisticated block chain technology. This is the first time in the chapter of Hvidovre, as well world’s politics, that a much celebrated yet criticized technology is getting utilized to keep voting.
Block Chain technology has become more popular since the launch of Bitcoin – the world’s leading cryptocurrency. The technology consists of a special type of database that is updated continuously in parallel with the changes in long chain of data blocks. In context of Bitcoin, the currency’s instances are stored in different data blocks within a large block chain database. This is done to keep the track of total number of Bitcoin in pool.
The most incredible thing about Block Chain Technology is its ability to prevent existing data to be lifted or modified, as each new data block contains the address of previous and next block in the chain. It is kind of like Double Linked List – a concept which is taught in Data Structures. Liberal Alliance, on the other hand, is trying to implement this technology in e-voting.
The reason of using this tech is further explained by the party’s political representative Mikkel Freltoft Krogholm who said in a press release that “Block Chain eliminates the need for trust, as the technology can operate autonomously without interference from humans, and it is also open source and transparent so that anyone can look under the hood and see what’s going on. It does not get more liberal – so it is ideal for e-voting.”
This simply means that upon the successful implementation of Bitcoin‘s block chain technology, the voting mechanism would be more transparent and will comply the contract framework meanwhile. Individuals will be able to check his or her vote, as well as all the parties can ensure an honest election.
“Block Chain technology can be shaggy, but it is basically out of that decentralizes and democratizes everything from money to organizations. So, from a liberal ideological point of view, it was an opportunity that we just had to intervene. Liberal Alliance in Hvidovre is the first local association of any party in the world that uses this type of technology in their reconciliation processes,” says Mikkel Freltoft Krogholm.
To contact the reporter of the story: Yashu Gola at email@example.com
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