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The integration of blockchain technology can help Kenya save billions of dollars lost each year to corruption, the United Nations Drug and Crime Agency said. According to the agency, the technology could also foster trust in government and enable automation of public procurement.
David Robinson, East African Region Advisor to the United Nations Office on Drugs and Crime (UNODC), has urged the Kenyan government to use blockchain to track down economic crimes. In Kenya, the main loophole has been the manipulation of procurement procedures and systems by government officials. These corrupt officials inflate costs as they please. The East African country’s auditor general recently estimated that it loses Kshs. 1 trillion ($ 10 billion) a year to corruption.
This is a challenge that blockchain technology can solve and finally restore lost trust in government, Robinson believes.
He said: “When corruption is a breach of trust, a technology that builds trust becomes an attractive solution in public projects. In the era of the fourth industrial revolution, online trust has become a key resource for transactions between strangers and for strengthening trust in the government. “
The Vienna-based agency believes blockchain provides “an unprecedented level of integrity, security and reliability.” It further reduces the risks of having a single point of failure. Blockchain also eliminates the need for intermediaries, which in effect reduces the chances for corrupt officials to make selfish gains.
Although Kenya shone as a leader in innovation in Africa, the country’s rampant corruption remained the biggest challenge. The country’s highest officials, including the vice president, have been implicated in mega scandals. The country’s president also admitted that he is unable to fight corruption.
Blockchain is the solution, Robinson told the Kenyan government. He said: “Blockchain technology becomes attractive to the global community and international organizations because it is a tool that can be used to potentially prevent corruption and protect public records from fraud and tampering.”
Kenya has been a leader in digital currency and blockchain adoption in Africa. According to the Chainalysis Global Crypto Adoption Index, the country ranks 5th globally and ranks first in Africa. The Central Bank of Kenya also recently revealed that it has been involved in a number of CBDC studies. Kenya has also seen a rapidly growing number of startups using blockchain to solve perennial challenges, from ride-hailing companies to agriculture-focused startups.
See also: CoinGeek Live presentation by Dr. Craig Wright, From the Internet to Bitcoin: The Digital Ledger to Advance the World’s Technology Infrastructure
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