London Mayor Candidate George Galloway Plans Blockchain-Based Public Expenditure Management System
London mayoral candidate George Galloway recently adopted blockchain technology for his 2016 campaign.
With the election coming up in May 2016, Galloway has plans to harness the Blocknet platform-as-a-service and the Horizon decentralized business platform to develop a blockchain-based public expenditure management system called MayorsChain.
The team behind Blocknet indicated that blockchain technology can provide a technological backbone to track government spending and the use of public resources with a 100% transparency and political accountability.
We envision a future in which this model of transparent, unbreakable and verifiable contribution to the City Government, in combination with continuous participation of the crowd through active voting, is utilized to manage budgets that are public to be audited collaboratively by its citizens, who share the benefits and responsibilities collectively. We are calling this model, decentralized City governance by blockchain.
With decentralised nature of blockchains, Galloway and the Blocknet team believe it is possible to enable direct public participation in budgetary decisions more extensively and more securely. Payments can be tracked securely and without data manipulation, and members of the public may vote for proposals.
Horizon is a Nxt blockchain clone that is promoted as having a broad feature set, ongoing development, excellent distribution of its tokens, and a very high node count, thus offering a good combination of “technological prowess and security” for MayorsChain.
The MayorsChain project team hopes to use the Blocknet, which links blockchains and permits use of multiple blockchains, to provide potential capacity to be mobile, modular, and interoperable handle the London government’s data needs.
Blocknet released a white paper on the MayorsChina back in July, written by team member Arlyn Culwick.
From March 2012- March 2015, Galloway was the Respect Party Member of Parliament for Bradford West. Before that, he long served as a Labour Party MP until he was expelled from the party in October 20o3 during the Iraq War for bringing the party into disrepute. In a hearing, he was found guilty of inciting Arabs to fight British troops, inciting British troops to defy orders, threatening to run against Labour and backing an anti-war candidate.