News | March 13, 2021, 10:40 AM | Brought to you by a Guest author
Blockchain technology has a multitude of uses and applications. Perhaps one of the more significant use cases that can be developed through it is a platform that can guarantee voting transparency. National governments are sure to benefit from this blockchain-based platform that eliminates voting fraud.
Australian firm Layer2 Technologies is developing B-Vote on the Bitcoin SV blockchain. It is a multi-purpose voting platform that can be applied to all kinds of voting needs—whether for something as big as a national election to something as small as voting of a company’s shareholders. It can also be used for questionnaires and surveys.
“The idea is that all of the ballots are put in a transparent box, so that everyone can see that there were no votes in the box before there should have been, or that none have been added after they should have been. Once you submit your vote, you can physically see with your own eyes that your vote is going to be included. That’s what blockchain voting allows.It doesn’t fix voting, but it takes a step in the right direction in making it better and more transparent,” Bitcoin Association Ambassador to Australia and LAYER2 Technologies CTO Eli Afram said.
B-Vote uses a simple interface that has the capacity to support the most complex computations at the backend. Bitcoin SV has developed its blockchain technology to be scaled infinitely, which means that it can accommodate an unlimited amount of data. It also has the capacity to facilitate microtransactions, which allows for its current median price to be atiny 0.00024 USD per transaction. Layer2 Technologies recognizes that B-Vote being used for national elections is ambitious and out of their control as many governments will be hesitant to change their voting systems. This is why B-Vote is equipped to be tailor-fit for use within the private sector.
“When we talk to councils and governments, we’re getting the “wow” response, which is a good step because we are getting that visibility – which is half the battle. We’ve proven that the throughput can handle it, the technology and transparency of it all is there. It’s ready to go—we just need to work with the right government to implement it,” Afram recounted. B-Vote has already been tested and results showed that the Bitcoin SV blockchain can more than handle the amount of data to be generated by an Australian national election. Developers are saying that blockchain technology is emerging as an innovation that can rival that of the Internet. There are currently more than 400 projects and ventures being developed on the Bitcoin SV blockchain, making its goal of global adoption not far from its reach.
“We’re not the first and we’re definitely not the only voting platform—but Bitcoin SV is the only blockchain that can deliver a system that works. And that’s been proven, now,” Afram confidently stated.