Blockchain tech outshines paper ballots and e-voting

Voting is a vital a part of any democracy, because it offers its residents the possibility to take part within the democratic governance course of. In a democracy, the target of voting isn’t just the creation of presidency however a collective effort that drives the pursuits of the society and the financial system.

The basic goal of voting the world over is to make sure that it occurs in a good and clear method. The normal poll system has existed for years, nevertheless it’s protected to say now that it has outlived its time. Challenges, corresponding to double voting, spurious votes and poll privateness considerations, have been within the information repeatedly displaying the inefficiency of the prevailing system.

Plus, the price of organizing poll voting at scale is pricey and is time-consuming. For instance, India spent near $eight billion in its 2019 nationwide elections and took roughly 40 days to complete your entire voting course of.

Due to this fact, we will safely say that the standard voting system has disadvantages not solely in the case of safety and the time it consumes but additionally with the fee to prepare your entire course of in a seamless method.

Is web voting the answer?

Can we then say that web voting is the answer to all the issues confronted by the prevailing conventional poll system? Web voting pilot initiatives have been carried out the world over however have been discontinued after some time.

Financial challenges, corresponding to web accessibility, studying and adapting to the brand new voting fashion by the inhabitants, can nonetheless be overcome with growth and coaching.

However the dangers associated to safety (laptop viruses/hacking) and scalability mechanisms are those that restrict the pilot. Additionally, web voting additionally can not basically assure one vote per one individual, and the excessive value of implementing it impacts the implementation additional.

Is blockchain-backed voting the answer?

Blockchain tech implementation for voting undoubtedly is an efficient possibility, because the decentralized consensus protocol ensures safety as much as a sure restrict, which is safer than the present centralized method of voting.

However then it offers rise to sure challenges like:

  • Scalability: Blockchains immediately should not scalable.

On the Ethereum blockchain, solely 15 transactions could be validated per second. Which means that because the variety of voters will increase, blockchain voting takes far more time to complete the voting course of.

For instance, when the second smallest nation on the planet, Tuvalu, with a inhabitants of 10,600, plans to do its elections on the Ethereum blockchain, for instance, it will take near 11.5 minutes (10,600/15 = 706 seconds) for your entire voting course of to be accomplished, however contemplating a rustic corresponding to India, which has a inhabitants of 1.four billion, it will simply take round three years for your entire voting course of to complete on the Ethereum blockchain.

These sorts of time frames are virtually inconceivable in a big democracy to even contemplate.

  • Vitality consumption: Blockchains devour far more vitality than any system current.

For instance, the Ethereum blockchain consumes 1.02 kilowatt-hours per transaction. In a rustic like Tulavu, the vitality consumption for blockchain voting seems to be 10.eight megawatt-hours, which is not going to have any appreciable adverse influence on the atmosphere. However then again, for a populous nation like India, blockchain voting, if carried out with Ethereum, will find yourself consuming 1,428 gigawatt-hours.

Vitality value not solely seems to be very excessive however it’s going to find yourself having a adverse (if not devastating) influence on the atmosphere as effectively.

  • Safety: Although blockchains are safe, they’re liable to 51%, the place malicious nodes occupy 51% or extra of the community. Since voting is one thing that might change the state of an financial system, probabilities for hacking/fraud are very excessive.
  • Id: Current blockchains can not guarantee a very decentralized identification, too.

How ought to blockchains protocols be designed then to be scalable, safe and fewer energy-consuming?

  • For scalability. As an alternative of all nodes validating all transactions, solely a subset of randomly chosen nodes can validate a transaction. This manner, your entire community can, in a coordinated method, validate over 1,000,000 transactions.

That is defined beneath with the hypergeometric distribution.

In a community, solely 200 randomly chosen nodes are wanted to validate a transaction with 99.999999999% confidence.

  • Vitality consumption. The proof-of-work algorithm designed in Bitcoin (known as HashRate PoW) ought to be changed with a PoW that consumes much less vitality since solely 200 nodes are wanted to validate a transaction. The order of vitality consumption must ideally be 3.6 billion instances much less energy-consuming than Bitcoin.
  • Safety. The above hypergeometric distribution demonstrates that even with 90% malicious nodes within the community, solely 200 randomly chosen nodes are sufficient to validate a transaction. Due to this fact, the safety of the blockchain ought to be increased: not 51% or 66%, however 90%.

Blockchain mixed with biometrics

Blockchain tech coupled with biometrics is the best answer for the voting course of. The blockchain protocol, after all, ought to be scalable, contain few validating nodes, devour much less vitality and be extremely safe.

The biometrics also needs to defend private information, encrypt/decrypt information/messages, it ought to have tamper-proof authentication and adjust to the Normal Information Safety Regulation within the European Union.

Presently, there are not any gamers which have been successfully in a position to mix each blockchain and biometrics to supply an answer for voting.

Going by the challenges that we have now mentioned above, the reality is that on this web period, if blockchain really has to allow a seamless voting system of free and truthful elections, it needs to be mixed with biometrics.

The controversy and dialogue will likely be round for some time on how the web and the blockchain will ultimately disrupt or not disrupt the voting course of. For instance, a recent article published by the Massachusetts Institute of Expertise’s Laptop Science and Synthetic Intelligence Laboratory identified that transferring to blockchain-enabled voting doesn’t take away the chance of failures. Such a transfer can go from dangerous to worse. Nonetheless, it’s not inconceivable to declare victory on this area and preserve our elections 100% safe and truthful.

The views, ideas and opinions expressed listed below are the authors’ alone and don’t essentially mirror or symbolize the views and opinions of Cointelegraph.

Vishnu Priya Mishra is a blockchain fanatic with six years of expertise in promoting and advertising and marketing, she has labored with manufacturers, corresponding to Burger King, Xbox and Ziff Davis in model and group constructing. She manages advertising and marketing and PR at Uniris.

Nilesh Patankar is a seasoned technologist with over 25 years of expertise within the funds area. He has managed world packages for Mastercard and Barclays. He was additionally the chief know-how officer of Payback, the biggest coalition loyalty program in India serving over 100 million customers. Nilesh is a co-founder and chief working officer of Uniris. 

Akshay Kumar Kandhi is the pinnacle of innovation, analysis and growth at Uniris, the place he’s on the forefront of analysis in blockchain and biometrics. He has a level from École Polytechnique in France.