Originally developed to address double spending of Bitcoin crytocurrency, the Blockchain verification system is being looked upon by a number of nations to prevent fraud and fight government corruption. I believe the system works (please correct me if I’m wrong) by recording a transaction into an electronic “block” that is shared among multiple computers. Once created it can not be altered. To change any part of the record one creates a new transaction that generates a new block that is then “chained” to the original transaction.
The system makes any transaction transparent and traceable, letting anyone interested to track what happened to financial, governmental, medical or any other record. There is no way to alter the original entry or hide the fraud.
India is rapidly applying Blockchain to combat their $2 billion a year loan fraud problem. Here
Kenya is very excited about the potential government corruption fighting possibilities the technology holds for land transactions, one of the most lucrative forms of official corruption in that nation. They speculate that Blockchain may allow all of us to do away with banks and other financial institutions who act as intermediaries (for a fee). Here
Why don’t we blockchain our voting system if everyone is so concerned about the Russians interfering with our elections? A verified legal citizen casts a vote and the system locks it in, with no way to spoil the ballot.