As per the Thailand recent news, NECTEC of Thailand has started an e-voting system rotating around blockchain technology. This is an administrative organization which works under the Ministry of Science and Technology and Technology Development and National Science agency. NECTEC ios typically into endorsing telecommunications as well as IT, Electronics and, Computing.
Blockchain technology has presently getting famous in numerous nations across the world concerning organizing a safe and secured election procedure. Formerly, in the US, the State of West Virginia showed an election elective procedure via mobile blockchain voting system for Virginians posted abroad helping the equipped facilities. The Election held in West Virginia was extremely valued and got a lot of optimistic replies. Many different countries such as Japan and Swiss have also conducted blockchain votings in many elections. The assumption of Bitcoin as a method to modify the technique of voting was measured at the time of the early days of the new technology. At a time when the virtual currency was about $30 (it’s now hovering around $3,500), in 2012, computer scientists in Canada were looking to exploit the capabilities of Bitcoin as “a form of ‘carbon dating’ for digital information and approximately that will make electronic voting safer.”
Traditional databases are maintained by a single organization, and that organization has complete control of the database, including the ability to tamper with the stored data, to censor otherwise valid changes to the data, or to add data fraudulently. For most use cases, this is not a problem since the organization which maintains the database does so for its own benefit, and therefore has no motive to falsify the database’s contents; however, there are other use cases, such as a financial network, where the data being stored is too sensitive and the motive to manipulate it is too enticing to allow any single organization to have total control over the database. Even if it could be guaranteed that the responsible organization would never enact a fraudulent change to the database (an assumption which, for many people, is already too much to ask), there is still the possibility that a hacker could break in and manipulate the database to their own ends.
Blockchains in Action
The most obvious example of blockchain technology in use today is Bitcoin. Bitcoin is a digital currency system which uses a blockchain to keep track of ownership of the currency. Whenever someone wishes to spend their bitcoins, they create a transaction which states that they are sending a certain number of their bitcoins to someone else. Then they digitally sign this transaction to authorize it, and broadcast it to all of the nodes in the Bitcoin network. When the next node creates a block, it will check that the new transaction is valid, and include it in the new block, which is then propagated to all other nodes in the network, which adjust their databases to deduct the transferred bitcoins from the sender and credit them to the recipient.