Ethereum’s Power Being Acknowledged – Brazil Planning Out
The technology and strength behind the coin and blockchain of Ethereum is being recognized and its adoption rate is raising its bar dramatically. It is experiencing real applications in a global-scale, and its most famous side is smart contracts. For starters, the just mentioned contracts are executed, managed digitally and enforced using the power of a computer. Keeping that in mind, blockchain technology of that sort could be a very secure way of sending data and completing out transactions from peer to peer in a decentralized manner.
Brazil’s political and electoral system functions around by using petitions, which is a useful way of making changes and asking for people’s opinion. However, with a population of more than 200 million people, with around 145 million eligible voters, this petition system has been problematic in many ways. The first issue is that signatures are gathered manually and then transported into trucks. This makes it very complicated to reach every voter and is very costly and tedious. In the Brazilian constitution, it is written that petitions need to receive 1% of the population’s signatures in order to be considered and discussed by Congress. This is why many petitions fail, as the system does not allow for everyone to participate, in addition to signatures being lost or left uncounted. Another issue with the current system is that there are numerous security flaws. Because of low protection and because signatures are manually collected on paper, this often results in votes being modified by third-parties, and thus rendered illegitimate. This is one of the biggest problems Brazil is facing: the authenticity of signatures.
Everton Fraga – an ethereum blockchain enthusiast and programmer, together with Ricardo Fernandes Paixão – a congress legislative adviser, are attempting and strongly hoping to change fundamentally the petition system with the help of the powerful Ethereum. The issues that are above mentioned could be resolved very easily with blockchain. The application that Brazilians will have is on the process of developing by the Congress, in which they will add their votes. The vote [signature] will be transformed into a transaction while being sent flying through the ethereum network. Which is why the signature will be encrypted and picked up by the Congress.
Both security and easy-to-do factors will be increased exponentially as each transaction is paired with the data of the voter using a hashing process which makes the system not ‘breach-able’ and the vote can not be changed by another party.
Brazil will be one of the first countries to adopt the blockchain technology to change the voting system. It is a promising endeavor, and it will be very interesting to see how this project develops and how it can truly modify the situation in the world’s fifth largest country. Other nations could be inspired by Brazil and adopt the blockchain technology in the future.