Blockchain-Based Voting Systems in Developing Countries: A Path to Economic Stability

Blockchain-Based Voting Systems in Developing Countries: A Path to Economic Stability

Author Sudip Chakraborty
Co-Author Deep Chakraborty
DOI https://ww

Country : India
Subject : Computer Science and Information Sciences

Keywords : Blockchain Voting, Electoral Transparency, Economic Stability, Governance Reform, Inflation Reduction, Foreign Direct Investment, Developing Countries.

Abstract

Blockchain technology presents a revolutionary approach to addressing persistent electoral inefficiencies and fraud prevalent in many developing countries. This paper examines the substantial potential of blockchain-based voting systems to revolutionize governance practices by enhancing transparency, security, and accountability. Transparent and tamper-proof voting processes can drastically reduce electoral fraud, thereby improving public trust and the legitimacy of governments. Enhanced governance not only curtails corruption but also fosters a more stable economic environment by attracting both domestic and international investments. Such investments are critical for economic growth and stability, significantly reducing inflationary pressures common in developing economies. This study reviews practical implementations in countries such as Estonia and Sierra Leone, illustrating tangible improvements in electoral transparency and economic stability following their adoption. The analysis includes detailed economic implications, highlighting the correlation between robust governance and economic health. Informative charts and graphs depict shifts in inflation rates and foreign direct investment (FDI) flows before and after blockchain implementation, emphasizing the positive economic impact of transparent electoral systems. The paper concludes with actionable policy recommendations, advocating for phased adoption of blockchain voting, international collaboration, and comprehensive public education initiatives to maximize benefits. Ultimately, blockchain-based voting systems provide developing countries with a strategic pathway toward sustainable governance reform and economic stabilization.

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