Many countries are already using blockchain technology to fight corruption.

Chairman of Fund for Protection of Investors’ Rights in Foreign States Yaroslav Bogdanov, in an interview with Information Agency “External Economic Relations”, spoke about possible ways of using blockchain technology. According to the Chairman, there are already tools that are helping to make processes rather transparent in literally all spheres of humanity and is becoming an effective method to fight  corruption.

“Many countries are already using blockchain technology to fight corruption. From managing financial assistance to tracking of budget implementation and government contracts – anti-corruption programs based on blockchain technology have changed the rules of the game. For example, in Canada in 2018, the National Research Council (NRC) began to exchange information on funding and research grants. Data was transmitted in real time thanks to the use of “Ethereum” platform. Developers therefore have provided  total transparency to the public. As a result, the strategy has helped establish greater trust between Canadian government and its citizens. Canadians now have an opportunity to track NRC expenses in real time by using this program,” Yaroslav Bogdanov said.

The Chairman named the system of legalization and control of labor migration as one of the areas where blockchain technology can be applied.

“The need for legalization and control of labor migration is beyond doubt. The existing tools – migration card, residence registration, patent are scattered and do not form a system. A database is needed through which it would be possible to check opportunities of entry in to a country for work with a specific employer and follow through departure to the country of origin after the completion of work,” the Chairman expressed his idea.

Yaroslav Bogdanov also calls for the use of blockchain technology to implement programs to support refugees and distribute humanitarian aid. As world experience shows (in particular, the use of blockchain in the UN by implementating it for humanitarian operations by the World Food Program, the world's largest humanitarian organization), blockchain allows not only to reduce the cost of humanitarian aid by 98%, but also to solve other problems related to humanitarian crises.