An official from the United Nations’ drugs and crime agency is advising East Africa’s largest economy Kenya, to explore Blockchain technology in its fight against corruption.
According to David Robinson, the regional anti-graft advisor at the UN drug and crime agency, countries like Kenya can avoid losing billions in drug-related malicious practices. Not only can the technology help against drug-related crime according to Robinson, but it can also help prevent government corruption as well as other economic crimes.
Blockchain’s Anti-corruption Qualities
A report by a local media news outlet, the Nation Media Group on Nov 3 had it that the UN counter drug crime executive had vouched for Blockchain technology by talking up its organizational abilities. According to Robinson, the technology would help protect public registries from fraud and forgery while also providing full traceability for transactions. The UN 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 registries from fraud and tampering.”
The UN executive went on to underline the need to regain public trust by slaying the graft demons that have plagued many developing economies like Kenya.
“Online trust became a key asset for transactions between strangers and building confidence in government.”
Kenya’s War against Corruption
Kenya is reportedly losing about a third of its budget to corrupt dealings every year due to a lack of up to date equipment and technology. Tracking failures are costing the Kenyan economy about $6 billion a year.
Graft related leaks have caused Kenya’s president Uhuru Kenyatta to be on a warpath against government graft. The president has utilized the Ethics and Anti-corruption Commission (EACC) in his country to go after corrupt officials, in a move that seeks to rid the East African country of such cases.
Still, there is a lot to be done and Blockchain technology could be what he turns to next, to finally win his war against corruption. A number of countries have gone the Blockchain route to address their graft challenges with Denmark being one of those countries. It is still to be seen whether the development of CBDCs could have an impact against corruption as a Kazakhstani official calls for the development of a CBDC in the country to address corruption.
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