International Scientific Journal of Engineering and Management

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ISSN: 2583-6129

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Government Fund Allocation and Tracking System over Blockchain

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Government Fund Allocation and Tracking System over Blockchain

Aditi Kachi, Mrs. Bhakti Bhatti, Pooja Gaikwad, Abhinav Walhekar, Harshad Jadhav

 

Abstract :  Now a days Governments need to handle huge amount of responsibilities. The working involves large number of transactions towards various operations that need to be carried out. This includes maintenance works, new projects, repair and awarding contracts. It is virtually impossible to track low-level corruption, which is major risk to the top government. In the current system tracking is very difficult. This problem can be overcome by creating a smart system that tracks and allocates government funds as they go throughout the government process. Here we make use of blockchain to secure the transaction at every stage, while maintaining transparency in each transaction sealing every transaction with proofs as the funds move ahead. Our goal in this paper is to create a system that allocates and tracks government funds at each stage of the process. Here we use blockchain technology to maintain the transparency and security throughout the process as the funds move ahead. By doing this, we are able to keep track of the records in the chain and process the data accordingly. In this system, encryption is used to secure transactional data, and hash values are used to maintain a chain of transactions. By using these blocks, the data can be saved in a transparent fashion while being verified and maintained. As a result, the system provides a secure and authentic fund allocation and fund tracking system that helps to form an incorruptible government procedure.

Keywords: Blockchain, Security, Transparency, Encryption, Government funds, Cryptography, Hashing


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