by Hania Ahmed
In some developing countries, scholarships are not given to the needy groups of society with transparency and fairness. In most cases, the recipient’s choice is hidden in privacy and support. Legitimate recipients are often left behind in favor of influential and powerful people and those close to them. In all these cases, how can blockchain be applied to achieve fairness and transparency in the selection and award process?
Governments today allocate funds to help the most vulnerable in society. She is the legal recipient of the stipend. For example, many children from poor or orphaned families have a dual priority of access to funds as long as they are eligible for good grades from high school to college. The criteria for selection depend on two factors. Weaknesses and degrees or good points. Therefore, children should be vulnerable to high school or high school level college education and their inability to pay for the best grades.
These funds are managed by the Stock Exchange Commission which selects the payers according to the above two criteria. Once each candidate is identified by the Scholarship Committee based on these criteria, the candidate will be appropriately awarded a scholarship between 50 50 and 100 100.
However, this system is actually beneficial for children born into wealthy families, especially those with political influence. In some cases, the name of the scholarship is included. This is detrimental to those who are smart but financially incompetent. This is where blockchain comes in.
On this blockchain
The system currently has the capability to store and record data on such activities, but this is very important. This allows system administrators to hide information. So you can’t tell if the selected recipient is eligible. Second, the current system is a threat to human intervention. However, smart blockchain agreements work independently based on input data to make the right choice. The advantage is that the blockchain is transparent and fair. How can I do this?
From the moment they enroll in elementary school, every child will have all the information obtained on the blockchain. The key figure is the financial capability of the sponsor in particular. In the process, this information is updated, for example, when the pastor dies. These factors allow you to isolate potential scholarship recipients through smart contracts. In this process, all academic achievements in high school are assessed and ranked among the potential beneficiaries. When students write the final high school exam, all this data can be used for the selection process.
The smart contract then selects potential recipients based on two criteria: risk and intelligence based on academic performance. The advantage of this blockchain-based system is that everyone knows who has been selected based on the imposed standards and other criteria. Second, there is no human intervention in this system.