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Blockchain technology can help countries like Kenya lose billions of dollars to corruption, according to an official from the United Nations anti-drug and criminal agency.
David Robinson, regional councilor against corruption at the United Nations Office on Drugs and Crime, believes that new technologies such as blockchain will help Kenya fight government corruption and other economic crimes.
According to Nation Media Group on November 3, Robinson said blockchain-based solutions can provide full transaction traceability, protecting public records from fraud and forgery. The official 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.”
Robinson said technologies like blockchain are an important tool for boosting trust, as corruption is a violation of public trust. “Online trust has become a key resource for transactions between strangers and for building trust in the government,” he said.
Kenya is reportedly losing up to a third of its budget to corruption every year due to a lack of modern equipment and technology to combat grafting. Failure to monitor corruption cases reportedly causes the country to lose up to $ 6 billion annually.
A number of countries around the world have considered both blockchain technology and cryptocurrencies as potential tools to fight corruption. In September 2020, the Danish Ministry of Foreign Affairs released a report analyzing the use of blockchain in the fight against corruption. In July, the president of Kazakhstan’s anti-corruption service called on the state to develop a national digital currency to fight corruption in the country.
