by Fauzan Anandika
Covid 19 pandemic has disturbed our economic activity. Peoples lost their job, while stores and restaurants go bankrupt. Thousands of people don’t have any income for months because the government limiting economic activity. Not to forget to mention, thousands of people hospitalized.
The government needs to help them as fast as possible. For countries that didn’t have comprehensive data for their citizen, this could be troublesome. Without complete data, social security support can become misdirected. Some people could not receive any financial support. But, some others could get double. To prevent this ineffective social support, the government needs to create a traceable system for monitoring the social security transaction. This feature is where Blockchain can be used as a support system to ensure every citizen can get their social support. Here are the analyses on how it could implement.
Creating a smart contract to prevent multiple beneficiaries
As we all know that blockchain technology is not only limited to cryptocurrency transactions only, it also can be used as data transferring and sharing any digital product. To establish good social security, every stakeholder should have the same data source that easy to share. A blockchain network uses a smart contract to verify every transaction that happens in the network. The smart contract is an agreement to validating the transaction process. In the support distribution, the government could create a beneficiary- contract that a user only can add one ID at one time. It will make sure there isn’t any duplicate data for receiving the beneficiary.
Tracing the beneficiary
Using a blockchain network makes every transaction visible to any stakeholder. The ability to trace the beneficiary will make the beneficiary distribution to be monitored by the government. And ensure all the citizen get their right during the pandemic.
Being transparent makes the budgeting process easier. The government exactly know how much they need to allocate to support the citizen in enduring the pandemic.
Secure internal comunication
Blockchain has better security performance than other cloud storage. With this feature, the government gets an alternative way to share information with every city and province. Changing and hacking into a blockchain network is the hardest thing to do. Blockchain networks start with using decentralized apps the database connected to many computers. And to hack or change the data inside, someone needs permission from all the connected stakeholders. Using Blockchain shared the panoramic safely.
Using append feature to completing database
For developing countries, having a good citizen database is a hard task to do. They need to validate the data and sometimes double inputting the data. That will make false information in their decision making. Unclear data makes the support comes late during the pandemic.
One of the blockchain features is, its database only can be added without editing. So there isn’t any need to waste more time checking a redundancy in the database. This will make the process faster and use less budget for administrative work.
Blockchain Technology becomes something useful, especially to reduce administrative and bureaucratic work. With blockchain technology, a nation could focus its budget for rebuild the economy.