The biggest opposition party in Thailand, the Democratic Party, hits the crypto news today for becoming the first large political party in the world to conduct primary elections completely on the blockchain.
The party used a live e-voting system where more than 120,000 voters were involved at the start of November. The voting system was powered by the Zcoin blockchain.
Thailand’s Democratic Party was inspired to use the blockchain after a Thai rap music video named ‘’Rap Against Dictatorship’’ became extremely popular for being the first song against the politics in Thailand for music to be stored using a blockchain after there were plenty of indications that the government wants to censor the video. The video was saved on the Zcoin blockchain and this is how the opposition got the idea.
The party elaborated the concept by using IPFS to improve the process of the election record integrity. Voters were able to participate by using a mobile phone app or manual voting at a physical station.
The founder of Zcoin said:
“I am very proud that Zcoin played a role in making Thailand’s first large-scale e-vote, a reality, which saw greater voter participation and transparency. I believe we’ve achieved a huge milestone in our country’s political history and hope that other political parties or even the government not just in Thailand but in the region can look to using blockchain technology in enabling large-scale e-voting or polling.”
The encryption keys used in the process of voting were split by a cryptographic method which makes sure that you need consensus to decrypt the entire voting data. This means that voter ID documents could be decrypted by an accredited official only.
You can check out the voting activity on the Zcoin blockchain explorer.
Russian State Duma To Review Crypto Regulation: Preparing For Oil-Backed Crypto
“Perhaps the oil-backed cryptocurrency will be the pioneering project that will create a reliable structure for the cryptographic market as a whole," he concluded.
Fidelity Investments Adopts Lighting Torch
New Privacy Mechanism For ETH Smart Contracts Developed By Stanford Researchers
“We describe an extension to Zether that can also hide the sender and receiver involved in a transaction among a group of users chosen by the sender. Though the overhead associated with anonymity scales linearly with the size of the group, no trusted set-up is needed and no changes to the underlying smart contract platform are required.”The report specifies that the Zether contract will never transfer funds without checking a transfer proof in order to prevent illegal transfers. This new design makes sure that the security of Zether depends on itself and not on third-parties or outside smart contracts. All of the privacy coins that provide users with a higher level of anonymity are still receiving mixed feelings from the community. For example, Charlie Lee declared he is focused on making Litecoin more fungible and private and to implement confidential transactions sometime in 2019.
Two Ohio-Based Companies Officially Paid Taxes With Cryptocurrency
“We will never accept won or renminbi or francs or cryptocurrency, or any other currency. You have to relieve your debts to the state of Ohio with U.S. dollars. That’s what we’re currently accepting. This platform just allows for that exchange, basically before that debt is settled to the state of Ohio.”Sprague pointed out that the treasury is reviewing how the program can be expanded and they are looking into the potential risks that can come up by using this method of tax payments. Ohio is working hard to attract blockchain-related businesses to the state. The state has already passed a law allowing businesses to pay taxes in crypto but the State Treasurer Josh Mandel stated that the legislation ‘’pants a flag’’ in Ohio regarding cryptocurrency adoption. Two days ago, the County Auditors’ Association of Ohio announced the gathering of a group that will work to explore the benefits of blockchain in real estate and transfer of land titles.
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Blockchain News2 days ago
Charity Branch Of Binance Launches Pilot Blockchain-Based School Lunch Program
Bitcoin News1 day ago
Brian Armstrong Believes Hot Wallets Are Good Enough To Store Bitcoin
Altcoin News4 days ago
Crypto Market Adds $10 Billion, Currently With $134bn. In Circulation
Altcoin News3 days ago
Crypto Trading Volumes Jump To 300-Day Highs Following The Bullish Market-Wide Run
Blockchain News1 day ago
Educational Certificates In Malta Will Be Stored On A Blockchain
Bitcoin News3 days ago
Samsung’s New Flagship Phone ‘Galaxy S10’ Comes With A Cryptocurrency Key Storage
Analysis4 days ago
Bitcoin Nearing $4,000: The Chances Of A Larger Breakout Are Increasing
Ethereum News4 days ago
Craig Wright Calls Out Ethereum For Being Unable To Scale