STATE GOVERNMENT FUND ALLOCATION & TRACKING SYSTEM OVER BLOCKCHAIN (KEY IJP************959)

• S. Md. Riyaz Naik

Abstract

There are several departments within the state government,each of which manages a variety programs for citizens eho qualify based on the criteria established by the government for each scheme. This mandates a centralized system capable of keeping track of the various applications, document approval status,sanctioned amounts, and all government schemes.This system, however, must be highly secure and ensure that only authorized users have access to it, these issues can be resolved by utilizing Blockchain technology.This properties of Blockchain such as immutability, consensus mechanisms and crytographic encryption ensure security and prevent unauthorized users from being able to access or edit data on the blockchain. The Transaction in this system will be placed within a transaction pool before a new block is mined which means several transaction can be verified and recorded together to reduce the costs invovled in blockchain transactions. Improvement in overall efficiency and quality of user experience for government can lead to tracking of other administrative problems using emerging technologies like Blockchain. In literature they use blockchain which enables cryptography and transation security at every stage while maintaining transparency so that every transaction is backed up eith proof of its authenticity. Hence, they present a framework that uses blockchain innovation and a full-proof fund transfer system. Blockchain contains growing list of records called blocks.KEYWORDS: Fund allocation, Smart Contracts, Fraud Prevention.