GOVERNMENT FUND ALLOCATION & TRACKING SYSTEM OVER BLOCKCHAIN
Abstract
Governments must address a vast array of state responsibilities. The operation of state governments entails a large number of transactions pertaining to various operations that must be carried out throughout the state. This includes new projects, repairs and maintenance, contract awarding, government employee pay, farmer schemes, and so on.
Low-level corruption, which is sometimes impossible to track and impedes state progress, is a major challenge for the top government. Due to the current system, tracking it is a very difficult task. In this paper, we propose a smart system for tracking state government funds as they move through the government process at each stage.
We use blockchain technology to secure transactions at every stage while maintaining transparency and sealing every transaction with proofs as the funds move forward. Blockchain, formerly known as block chain, is a growing list of records known as blocks that are linked together using cryptography. Each block includes a cryptographic hash of the previous block, as well as a timestamp and transaction data.
In this project, researchers employ Blockchain Algorithms such as AES for Encryption and Decryption. A blockchain is designed to be resistant to data modification. In this paper, we propose a system for tracking government funds as they move through the government process at each stage, using a key pair generation algorithm, metadata file decryption, and data verification algorithms.
This system employs block-chain technology to ensure transparency and security at every stage of the funding process. This system enables us to keep a clear record with all users who are linked in the chain to transact data on a need-to-know basis.
The system employs encryption to secure transactional data by employing hash values to maintain a block of transactions in a chain, which is maintained and verified by each node involved in order to verify the transaction and save the data in a transparent form within the government. The system enables full proof, secure, and authentic fund allocation and tracking, which contributes to the formation of an incorruptible government procedure.
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Blockchain, Security, Transparency, Encryption, Government Funds, Cryptography, AES are key words.
GOVERNMENT FUND ALLOCATION & TRACKING SYSTEM OVER BLOCKCHAIN
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