Blockchain for government fund tracking using Hyperledger

Abstract

Blockchain is one of the technology that has created a disruptive change in many industries. Currently, Blockchain is being used in several places and there are many more applications of Blockchain yet to be discovered and implemented. Blockchain is characterized by its decentralized nature, integrity of the data stored in the chain and its openness. Due to these characteristics, another place where Blockchain can be used is to release government funds for a project. Usually when a project is allocated funds, there is no knowledge as to how these funds are being used and a large part of it is never shown in records due to corruption. To solve this problem, a system has been proposed using Blockchain to provide the transparency. This paper also gives a description about a prototype which was developed using Hyperledger Composer. It then discusses the future development of this prototype and finally, concludes with the applicability of Blockchain.