Blockchain technology could help countries like Kenya save billions of dollars due to corruptionAccording to an official with the United Nations Department of Criminal Investigation and Drugs.
David Robinson, Regional Anti-Corruption Advisor to the United Nations Office on Drugs and Crime, believes that new technologies like blockchain will help Kenya fight corruption and other government economic crimes.
According to Nation Media Group on November 3rd Robinson claimed that blockchain-based solutions can provide full transaction traceabilityProtecting public records from fraud and forgery. The officer said:
“Blockchain technology is becoming attractive to the global community and international organizations because it is a tool that can potentially prevent corruption and protect public records from fraud and manipulation.”
Robinson said technologies like blockchain are an important tool for increasing trustbecause corruption is a violation of public trust. “Online trust has become a key element in making transactions between strangers and building trust in the government.”, he claimed.
According to reports Kenya loses up to a third of its budget to corruption every year due to a lack of modern equipment and technology to combat it.. The country is reportedly causing up to $ 6 billion in annual losses due to a lack of follow-up to corruption cases.
Several countries around the world have considered both blockchain technology and cryptocurrencies as potential tools to fight corruption.. In September 2020, the Danish Ministry of Foreign Affairs published a report analyzing the use of blockchain in the fight against corruption. In July, the President of the Kazakh Anti-Corruption Service urged the state to develop a national digital currency to fight corruption in the country.