Although it seems rather difficult to understand for people who have no passion for digital currency whatsoever, there are plenty of reasons to get excited about Bitcoin itself. However, for now, the largest focus is on blockchain technology and what it can do for our society. BitCongress is one of the most exciting projects in development right now, as this concept is all about voting and legislation in a decentralized and transparent manner.
How BitCongress Can Change The World
Touching upon the subject of using blockchain technology for voting purposes is nothing new under the sun, as various proposals have been made in this regard already. However, BitCongress is seemingly one step ahead of most of its competitors, as a whitepaper was released not too long ago, detailing how this process would work.
Unlike Bitcoin, there would be a token issued to every individual participant in the BitCongress ecosystem, called VOTE. Not the most catchy or appealing name for a token, but considering this is all about making one’s voice be heard, the name VOTE seems to be aptly chosen.
However, every BOTE token can only be sent to one particular address one time, preventing users from manipulating the votes through a double-spend voting process. Moreover, once the votes have been counted, individual VOTE tokens are reimbursed to the BitCongress members, reducing the need for an inflationary supply of tokens.
Speaking of the voting process, BitCongress members will let their voice be heard through the AXIOMITY web app. Among the topics to vote on is legislation, as well as candidates for dedicated roles in the legislative framework. Quite an interesting concept so far, and the blockchain can help make things more secure than ever before.
BitCongress voting data will be permanently recorded on the blockchain, by using private-public key cryptography. This will allow users to vote on specific issues, as well as seeing the voting records while keeping identities anonymous. Plus, the blockchain allows anyone in the world to participate in BitCongress, as voting can be done from any location as long as there is Internet access.
All in all, this sounds like a very versatile solution to decentralize the voting process as we know it. Gone will be the days of filling in ballots with a pencil, and having no overview as to whether or not the votes were counted correctly. With the blockchain, there is no room for cheating or tampering, which could be the main reason politicians will never go for it in the first place.
Source: Who Is Hosting This
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.