UN Expects Blockchain Technology to be part of the Solution against Kenyan Corruption
By Mark L – Cryptocurrency Professional
While cryptocurrency trading is growing steadily in Kenya, The United Nations Drug and Crimes Agency has asserted that the integration of blockchain technology will help fight the rampant corruption present as well as the loss of billions in dollars each year. The implementation of blockchain infrastructures, according to the UN agency, might help gain further trust in governments and encourage the automation and transparency of public contracts.
With the introduction of this technology and the establishment of a government expert team, it may encourage further research into projects such as their own Central Bank Digital Currency (CBDC) and more participation by individuals who buy and sell cryptocurrency.
The UN East African consultant David Robinson advised the Kenyan authorities to utilise this technology to track and monitor cybercrime. In the current bureaucratic conditions, the censorship and manipulation of procurement processes by officials is the biggest cause for government criminal activity. The country’s auditor General recently estimated that approximately Kshs. 1 trillion ($10 billion) is lost each year to corruption. He believes blockchain will help tackle this problem and rebuild trust.
Robinson told the Kenyan government that blockchain is the solution. He stated that its core nature is the ‘tool that can be used to potentially prevent corruption.’ It will ‘protect public registries from fraud and tampering’ he says and will benefit global communities and international organisations.
According to Chainalysis Global Crypto, the country ranks first in Africa and fifth globally for its digital currency adoption and contributions. From corporate firms to agricultural focused start-ups, blockchain use cases and projects are rapidly rising, with more people showing interest in buying Bitcoin or learning about the technology.