A more open organization gains the trust of citizens. Blockchain establishes co-ownership allowing visibility of transactions. Local organizations can use the technology to provide public visibility into the municipality’s budget as shown by Business Consulting Firms.
Blockchain technology for organization simplifies and enhances the ability to track transactions and prevent fraud. Many agencies fail to combat fraud due to limited resources. The distributed and transparent nature of blockchain closes the loophole by identifying individuals and linking them to specific activities.
A recent survey conducted by the Economic Intelligence Unit revealed high levels of interest by organizations across the globe. The survey report stated that organization organizations are keen to dismantle bureaucracy that hinders efficiency. However, this does not mean the technology should expose personally identifiable information (PII). It can simply link to the data while providing minimal PII, such as validating citizenship.
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