Blockchain Technology

Brazilian Presidential Candidates Have Different Ideas To Use Blockchain Tech

The presidential race in Brazil is heating up, and the candidates have different plans about how to use blockchain technology in government.

Marina Silva, the REDE party Candidate, used the Decred blockchain for the creation of a permanent and transparent record of donations made to her campaign. João Amoêdo, the New Party candidate, said that if he had been elected, he would have implemented a “Digital Government” and offer Brazilians an electronic identity which could be enabled with the help of blockchain technology.

Since the Brazilian presidential race is heading into its another phase, Fernando Haddad of the Workers’ Party has decided to utilize blockchain technology to question what he is calling “fake news” reports concerning his policies, ideas as well as personal life. As indicated at the Haddad’s website, his proposals for the presidency have been changed and altered for manipulating the voters. To combat the manipulation of his plans, Haddad decided to execute his 13-point government plan on the Decred blockchain to create an unalterable record which is unable to be used for malicious purposes.

Hadad’s use of blockchain for his plan represents a more significant trend to leverage this technology for countering the spread of falsified information. In February 2018, Vitalik Buterin, Ethereum co-founder, recommended that a prediction market is added to the social media platforms like Facebook and Twitter, wherein members staked Ether and voted to choose if a post was legitimate news or a scam. In case the consensus was like a post was fake news, then those who voted in favour of the post would get their Ether taken away as a penalty, and vice-versa for the posts found to be legitimate.

Some companies are dependably attempting to utilize blockchain technology to combat misinformation, too. Civil and Veracity are two blockchain companies hoping to help users to participate in policing the legitimacy as well as ethics of media content.