While certain parties in the United States continue to challenge the integrity of the election process, a group of researchers is advocating against using Internet-based and blockchain-based voting systems in the future.
According to a Nov. 16 report from researchers at the Massachusetts Institute of Technology's Computer Science and Artificial Intelligence Laboratory, relying on blockchain voting technology is not a reliable means of promoting greater turnout and may increase the risk of hackers tampering with elections.
The cybersecurity team of Sunoo Park, Michael Specter, Neha Narula and Ronald L. Rivest concluded that blockchain was "Unsuitable for political elections for the foreseeable future" when compared with software-independent methods including voting in person and mail-in ballots.
"While current election systems are far from perfect, blockchain would greatly increase the risk of undetectable, nation-scale election failures," said Rivest, an MIT professor and the senior author of the report.
The team argues one of the main differences when using blockchain technology for a democratic process like voting versus financial transactions is that when hacks or fraud occurs, financial institutions sometimes have methods to compensate victims for their losses.
Blockchain-based voting also invites opportunities for "Serious failures" according to the MIT team.
A blockchain-based voting system with just a single point of attack could potentially provide hackers with the ability to alter or remove millions of votes, whereas "Destroying a mail-in ballot generally requires physical access."
Many countries are trying to further integrate blockchain technology into the voting process following small-scale deployments.
Russia's blockchain-based voting system on Vladimir Putin's term limit reportedly did not allow for ballot secrecy, as users and third parties could decipher votes before the official count.
In February, a different MIT team - which included researcher Michael Specter - released a report identifying security vulnerabilities within the blockchain-based voting app Voatz.
MIT cybersecurity experts do not trust blockchain-based voting systems
Publicado en Nov 16, 2020
by Cointele | Publicado en Coinage
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.