Government Budget Tracking Using Block-Chain Technology

Over the past few years, the trend of increasing cases of corruption and delinquency in government budgeting raised serious concerns with the integrity of public finance systems. This paper is driven by a pressing need to resolve the increasing issues of government corruption and rebuild public trust in financial management. As abuse and misappropriation of funds increase, this project seeks to develop a secure and transparent platform for monitoring government budgets and spendings through the utilization of consortium blockchain technology. Our system seeks to promote accountability among stakeholders through the guarantee that each transaction is safely stored and efficiently traced with a new branching blockchain paradigm. Unlike conventional public or private blocks, the methodology employs a hybrid consortium model to guarantee transparency and efficiency, as discussed in earlier blockchain research on blockchain governance. The platform employs smart contracts in automated distribution of funds and auditing, reducing manual intervention and fraud susceptibility. This aligns with earlier research indicating blockchain's potential to enhance financial accountability in government spending. Through hosting a permanent, publicly visible ledger, the system promotes greater public participation and trust in government financial processes. Successful implementation, however, would involve the surmounting of regulatory challenges and interoperability with current financial systems, as indicated in blockchain-based government research. The long-term vision of this project is to develop an efficient public service delivery system, promoting trust and accountability in government budget tracking.