My dear daughter,
There is potential in the use of Blockchain technology to make public spending more transparent.
Nowadays public spending is overseen and controlled by relatively independent institutions inside public administration, like accounting courts, internal controls and the D.A.’s Office. There are a few private organizations checking up on public accounts. Sometimes the press goes through the administration books and ledgers on specific cases.
It may seem incredible, but often all those controls fail. There is political interference in accounting courts and the D.A.’s Office. And every now and then you will find criminal groups with tentacles in all administrative branches which can make all controls look the other way. Plus, there are administrations which insist on being non-transparent and unaccountable.
Suppose an operation involving public spending has to be validated by a very large network of computers, spread throughout the country, in the hands of individual citizens, non-profit organizations, corporations and also the public sector. The Blockchain can be instructed and programmed with rules to mirror the law system regarding all aspects of public spending.
That would make it virtually impossible to wrongfully deviate public resources, as long as there is no human interference or human biases in the initial programming of the system. The Blockchain could become the social control itself, the very implementation of checks and balances.
Love,
Dad
Aspergers Dad 