Why Hedera Hashgraph can be the Next Government

hedera as the next government philippines

Trust: the Most Valuable Asset in the Modern World

In a technologically-revolutionized world, change remains constant and this time, instant. Now, through the power of technology and digitalization, everyone can become a content creator, a seller, and even a newscaster; opportunities are everywhere and can be gained with 0 to minimal investments, which was then rare when information was still not as accessible as it is today. Especially with the pandemic, there is an influx of content and information which can be accessed online. And as much as it is an equalizer, eventually, it opens the room for fake news, hacking, and scams, too.

However, no matter how drastic changes become and wherever this brings us, it is public trust that continues to empower and bring success to ventures and institutions. Whether it be in the physical world or in virtual reality, it is trust that brings profit to businesses and it is trust that motivates people to make an expense, therefore making it very rare and of precious value. Trust is the most valuable asset. 

What is Hedera Hashgraph

Hedera Hashgraph, a third generation public ledger, is the latest technology operating through a “gossip of gossips” method that stores information in smaller chunks through nodes and connect them through a series of graphs that draws a larger picture and writes history, one that we can all trust and can never be revised. Furthermore, this technology is designed to work through mathematical algorithms and computations and free from human intervention, making its operations detached from people thus removing the aspect of bias, friendship, mistakes, among others. Moreover, there is no need to ask who you are talking to or the resume and track record of a person, since this Hedera Hashgraph has been keeping track of all relevant records for you. In the same way, there is no need to worry about people telling lies or ruining your reputation through false information since the truth is recorded to the smallest detail through Hedera Hashgraph.

Hedera Hashgraph does this with the use of nodes containing a timestamp, digital signature, your transaction, and hashes of two or more preceding events. These nodes are communicated from one source to another thus transferring a complete and irreversible copy of the details of the what and when components of your transactions. The verification process occurs as these nodes are not limited to being duplicated and communicated to only one entity but are sent to more entities therefore, building a network of recorders of the truth about your transaction. Their timestamp and order are also recorded therefore strengthening the validity of what truly took place in an event or transaction and when it happened. Relating it to gossip, one gossip talks about details of an event, Hedera Hashgraph then takes it to the next level by adding to the gossip the details of the gossip itself too hence, the method of gossip of gossips.

Transparency, Accountability, and Public Trust

Public office is public trust. For an institution as big as the government, the foundation is built on the fundamental concept of trust. Following the philosophy of common good theorists, we surrender a portion of our liberties to the governing body with the faith that their actions are for the common good. We follow the government and give our money to them because we trust them. In democratic countries including the Philippines, those who are elected to occupy a seat in the government have been granted public trust and subsequent authority and resources. 

As we continue to live in a future-looking society, people receive a lot of  information delivering different messages both positive and negative, therefore we tend to become more careful and continue to seek solid evidence validation before we bestow our trust. And transparency and accountability is a huge factor and one of the most solid pieces of evidence one can provide to prove worthy of trust and of the valuable resources of people not only money but time, effort, and attention. 

Now, we are at the stage where we need reviews and recommendations from friends or even strangers in order to gain motivation in buying a product or service. But as this progresses, our future would prefer entities that are transparent and accountable and have proven through concrete evidence that they are worthy of our trust. And this is wise democracy in action. 

This is what public ledgers including Hedera Hashgraph offer our society. They have provided the platform to decentralize important activities in our lives including finances, contracts, files, and consensus. It gives power directly to users, eliminates the middleman, and keeps accurate and real-time records of transactions, which in turn solve a number of long-standing problems our society has been facing. They provide a platform that empowers institutions to be transparent and accountable, to be trust-worthy. And by experiencing high quality solutions, we realize that we deserve no less moving forward. 

Hedera Hashgraph Sells Trust

Whether you are from the public sector, the private sector, or the civil society, the technological and information-driven age that we are living in will commit only to something or someone they trust. Solid evidence and irreversible history whose power and control belong to everyone is the future’s method of establishing trustworthiness and credibility and this is what Hedera Hashgraph offers our society. Hedera Hashgraph empowers you to become trustworthy.

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