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Last Updated on August 18, 2022 by Editor Futurescope
Voting is one of the most important democratical rights that we have. Traditional voting is currently the safest way to vote, but the digital era has brought some new solutions like blockchain voting and smart contracts.
These solutions can make voting immensely more efficient, having in mind that a voter can vote within a few minutes from their homes. Currently, blockchain voting cannot be exercised as there are too many potential security breaches. In the near future, however, we can expect that this will become another form of voting.
Blockchains have been used in the crypto world for years, and now is the time for them to have a different role as well. For more news about the cryptocurrencies and crypto market, visit tradecrypto.com site.
What is blockchain voting?
Unlike traditional voting by showing up personally and voting through a physical ballot, blockchain voting is the future of online voting. The blockchain acts like a ballot box in which you can cast your vote.
Until the very end of the elections, you can change your vote, and the option you chose is transparent, so there is no possibility of an error. Blockchain voting is efficient, the software would count the votes within minutes, instead of weeks. However, since the voters can vote on their phones and laptops through an online network, the security question arises.
Can you use smart contract to vote for government or president?
At this moment it is not possible to use a smart contract to vote for the government or president. There are pilot projects assessing potential risks, but it has not yet been implemented as an official part of elections.
A smart contract is a software that enables you to vote or deal with your cryptocurrencies. An example of a smart contract is defi 2.0 smart contracts. The fact that smart contracts come with certain risks is a setback, but decentralized finance and operations are necessary.
Once blockchain voting is enabled, it will be much more convenient to vote for people living overseas, or those that cannot show up in person to vote. For this to happen, a number of security issues have to be addressed and resolved.
Blockchain voting use cases
Right now the use of smart contracts for voting for a government or president is in the pilot phase. More and more countries realize that enabling blockchain voting is the next step when it comes to elections. For example, South Korea and India have begun creating safe conditions so that people can vote using smart contracts.
In the 2018 elections, West Virginia tested blockchain voting enabling oversea residents as well as military members to vote. The conclusion after voting was that the block chain voting system was safe and convenient.
Currently, there are a few blockchain voting companies improving the system and hoping to be used during the next elections.
Furthermore, Japan used blockchain for voting in 2020. The Tsukuba City of Japan used the services of LayerX company to enable using blockchain for voting.
There are also some projects covered under the veil of mystery. For example, USPS built secretly blockchain-based voting system. While the project was abandoned in 2019, the fact that someone built secretly blockchain-based mobile voting system led to the conclusion that the system was vulnerable and susceptible to hackers.
Online blockchain voting debates
The blockchain voting system project has sparked heated online debates. A major concern when implementing such a system, which may be similar to DEXs is security. While traditional voting may take more time and is more expensive and inconvenient, it is not easy to tamper with the results of such voting.
With blockchain voting, the situation is different. Hackers or the included parties can alter the results of the voting in a way that no one ever notices anything. The fact that USPS built secretly blockachain based voting before, makes us wonder what other secret projects are on the way.
Apart from the fact that someone secretly tested blockchain based mobile voting before, the public systems are subject to hacking and malfunctions. To become a part of the official voting system, blockchain voting will have to implement serious security measures.
