Category: Uncategorized

Currently candidates for public office must use various platforms as mediumsto raise funds. As with most third-partyinterfaces, there are transaction costs associated with the use of fundraising platforms, such as transaction fees. Also, there is a lack of transparency in the donation process. Once a donor donates: that is the end of the transaction. The donor no longer knows where the money goes or how the candidate uses the funds. Lastly, there is always the looming threat of the influence of dark money and special interests in politics. Therefore, we propose the use of blockchain campaign finance, particularly the issuance of utility tokens. Incorporating blockchain in campaign finance can increase transparency and efficiency in the campaign finance process

Nigeria possess the potential to exist as a thriving democracy and economic power in Africa. There, however, is one major issue that inhibits Nigeria from doing so—corruption. Corruption permeates itself through nearly every facet of Nigerian government. In fact, corruption is so pervasive in Nigeria, many citizens have lost faith in Nigerian government. Moreover, the most corrupt area in Nigerian government—like most governments—is in procurement. Procurement is a government’s most important function, involving massive transfers of funds and exchanges of goods from governments to private parties. Utilizing blockchain in procurement can increase supply chain transparency and improve the contract award process. Blockchain—at a basic level—can operate as a public, tamper-evident, electronic ledger capable of performing self-executing contracts. Accordingly, Nigeria utilizing blockchain in procurement will curb corruption through increased transparency. Increased transparency and decreased corruption undoubtedly will lead Nigerian citizens to develop renewed faith and trust in the Nigerian government—a key component to a stable democracy. Additionally, blockchain will also enable Nigeria to realize economic gains through refined and efficient procurement. Blockchain can transform Nigeria.