Canada Increases Government Funding Transparency With Blockchain

News
Wed, 08/22/2018 - 18:50
Alex Dovbnya
The National Research Council of Canada (NRC) is using a technology built on the Ethereum Blockchain in order to publish all the data related to public programs
Cover image via U.Today

The National Research Council of Canada (NRC), a major research organization in Canada, is using a technology built on the Ethereum Blockchain in order to publish all the data related to public programs and their funding in real time. If any grant is somehow amended, all the information will be recorded on the Blockchain for users to search for it with the help of an explorer.

Such a manifestation of a decentralized ledger technology will make sure that government public programs are conducted in an open and transparent way  since any data recorded on a public ledger is unalterable.
 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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