Government Funds Allocation and Tracking System using Blockchain Technology

Authors: Dinesh Ghorpade, Roshan Devkar, Vijay Sadgir, Sagar Ghodsare, Shibnath Nandi, Dnyaneshwar Mandlik

Country: India

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Abstract: India, a fastest growing economy in the world has a great potential in attracting the global customers and adapting to new technologies and changes. Digitalization has a great capabilities which in turn improve and enhance the connectivity in nearly every sector of its economy. But at times the distribution of these approaches is uneven among few sectors of government. Adapting to the latest growing technology will in turn help in bringing the great value and a drastic change in the mode of operations/work for the large group of people out there. Blockchain is one such technology. Due to its feature like decentralized approach, secure, immutable, tamper proof nature it is being adopted by each and every sector globally .Funds in India, on the contrary, is a heated topic and various schemes issued in public interest are allotted tons of money as funds. Due to the lack of transparency, Blockchain can be used to bridge that gap and to provide the fully secure, immutable environment for funds tracking.

Keywords: Blockchain, HyperLedger, IPFS

Paper Id: 230187

Published On: 2023-05-30

Published In: Volume 11, Issue 3, May-June 2023

Cite This: Government Funds Allocation and Tracking System using Blockchain Technology - Dinesh Ghorpade, Roshan Devkar, Vijay Sadgir, Sagar Ghodsare, Shibnath Nandi, Dnyaneshwar Mandlik - IJIRMPS Volume 11, Issue 3, May-June 2023.

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