Blockchain should be used to help stop the illegal flow of funds in the global fight against corruption according to former aide to Barack Obama Johanna Maska.
It’s estimated developing countries miss out on US$1 trillion each year to corrupt government activities such as illegal tax evasion and shady natural resource deals.
Speaking from the BlockShow Americas 2018 event in Las Vegas, the former President’s director of press advance said she had developed a strong interest in technology since leaving her career in politics.
“I started paying attention to fintech, healthtech and govtech when I left the White House for the reason that I think a lot of those are areas that you can have terrific impact with technology,” said Maska.
Maska added she thought blockchain technology and smart contracts could be used to help developing countries struggling against corrupt politicians.
“I don’t think we can wholly trust that all people in any sector, including technology, are all out for everyone’s good.
People could actually use that to help lift communities up out of situations where they’ve been victim to corruption.”
Governments around the world are already going digital – embracing innovation to modernise and strengthen their systems in response to growing concerns around data privacy and declining trust.
“My hope is that those who really care about it will go in and help try to create that transparency so that people there are not taken advantage of.”
This story first appeared on Coincast TV.