GOVERNMENT FUND ALLOCATION & TRACKING SYSTEM OVER BLOCKCHAIN

ABSTRACT

The project entitled “Government fund allocation and tracking system over  blockchain” made use of Blockchain Algorithms for security like AES for Encryption and Decryption By design, a blockchain is resistant to modification of the data. In this paper we propose a system to track funds allocated to the government as they travel through the government process at each stage using Key pair generation algorithm, Metadata file decryption and Data verification algorithms. This system uses block-chain technology to maintain the transparency & security at every stage as the funds move ahead. This system allows us to maintain the crystal clear record with all users who are connected in the chain to transaction the data on a need to know basis. The system makes use of encryption to secure transactional data using hash values to maintain a block of transactions in a chain manner, which is maintained & verified by every node involved to verify the transaction and save the data in a transparent form within the government. The system allows for a full proof, secure & authentic fund allocation & fund tracking system help to form an incorruptible government procedure.

 

CHAPTER ONE

GENERAL INTRODUCTION

1.1 Background

When government funds are granted to a project, there is usually no understanding of how they are spent, and a significant portion of it is never recorded owing to corruption. To address this issue, a solution that uses Blockchain to enable transparency has been proposed. Low-level corruption, which is sometimes difficult to trace and obstructs state growth, is a big challenge for the top administration. Blockchain technology is a new and promising technology that has the potential to change the world.

To safeguard the data, we employ blockchain  technology to safeguard transactions at every stage while retaining transparency and confirming each transaction as funds are transferred. This provides for a crystal clear record to be kept, as well as on-demand access to transactional data for those who need to know. The system uses encryption to secure transactional data and hashes to preserve a block of transactions in a chain that is maintained and validated by each node involved in the transaction in order to verify the transaction and save the data in a transparent form within the government. To aid in the formation of an incorruptible government process, the system provides a complete proof, safe, and authentic fund allocation and tracking mechanism.

The ability of blockchain to improve the trust and transparency of information-based trades between people and organisations has been lauded. When used in the right circumstances, the innovation provides assurance. Typically, organisations with their own, separate IT systems attempting to collaborate face challenges such as data compromise, identifying a single source of truth, and encouraging accountability. Blockchain technology addresses these issues by providing a specific foundation that enables the execution of shared business forms in such a way that no single substance has authority over the entire system. The need for government to collect, support, and promote open trust in data and frameworks is a common one. In some cases, blockchain technology may be able to aid in the improvement of trust.

1.2 Statement of the Problem

Governments are responsible for a large number of tasks. State government operations entail a large number of transactions for various processes that must be carried out across the state. This comprises new projects, repairs and maintenance, contract awarding, government employee remuneration, and farmer schemes, among other things. Low-level corruption, which is sometimes tough to trace and obstructs state growth, is a big challenge for the top administration. Due to the existing method, tracking it is extremely tough. We suggest a smart system to track monies provided to the state government as they pass through the various stages of the government process. To ensure the security of our transactions, we use blockchain technology.

1.3 Study Objectives 

The general aim of this project is the Design and implementation of government fund allocation and tracking system over the blockchchain.  The specific objectives include:

1. To develop an application that will use block chain technology to secure government fund allocation and tracking system and curb fraud and funds mismanagement.
2. To test the success of the proposed block chain application.

 

1.4 Significant of the Study

The propose system will be of great benefit to the government and it will improve the managerial cum administrative strength of the business and move the business forward to meet the demand of times and globalization in this era of technology.  This piece of work will add to the already existing literature review and act as a reference work for future researchers.

1.5 Scope and Limitation

The purpose of this research is to create an application using block chain technology that addresses information security as well as secure online  government fund allocation and tracking system. Here we propose a smart system to track funds allocated to the state government as they travel through the government process at each stage. We here make use of blockchain technology to secure the transactions at every stage while maintaining transparency in every transaction sealing every transaction with proofs as the funds move ahead.

 

GOVERNMENT FUND ALLOCATION & TRACKING SYSTEM OVER BLOCKCHAIN. GET MORE BLOCKCHAIN PROJECT PROJECT TOPICS AND MATERIALS

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