According to a report from the Danish Ministry of Foreign Affairs, the blockchain and big data technology can be used to fight administrative and political corruption.
The Ministry presented a report at the International Anti-Corruption Conference (IACC). According to the Ministry, the blockchain will allow creating a more transparent system of management and tracking of various financial transactions. Also, distributed ledger technology (DLT) will give ordinary citizens more rights to their data, ensuring their privacy.
The Office noted another advantage of the blockchain – each person has the same access to data stored in the registry. It allows people to claim their rights to material assistance, real estate, financial resources, etc., without recourse to intermediaries.
In its report, the Ministry also noted that the blockchain eliminates the need for banks, cadastral agencies, and accountants, as their tasks can be solved quickly and efficiently using the latest technologies. The Ministry added that if the blockchain is used on a large scale, it will no longer be necessary to keep books of birth and death, as well as records of car registrations because all this information can be confirmed in the blockchain.
According to a study conducted by specialists from the Ministry of Foreign Affairs of Denmark, the blockchain will help organizations exchange data efficiently and securely with people who do not have a bank account. Besides, the DLT can also be used in the public sector to protect various documents and prevent their falsification.
The Ministry noted that the blockchain could be confidently used as a tool in the fight against corruption, as this technology ensures transparency and consistency of data. According to the Ministry, the transparent tracking of transactions will reduce the probability of bribes, but it will be possible only if the distributed registry contains correct data.
Technical analysis of Bitcoin (BTC):
Over the past weekend, the price of bitcoin rose to the resistance level of $10,600. Then it dropped to the support level of $9,800. Now, the price of bitcoin is $10,100. In the future, we predict a technical rebound upwards with a subsequent decline. The nearest resistance levels are $10,250, $10,340, $10,500, $11,000, $11,300, $11,400, $11,500, $11,650, $11,850, $12,000, $12,230, $13,000, $13,500. The nearest support levels are $10,000, $9,850, $9,600, $9,400, $9,300, $9,200, $9,000, $8,600.
Technical analysis of Ethereum (ETH):
Over the past weekend, the price of ethereum rose slightly to the resistance level of $400. Then it dropped to the support level of $310. Now, the price of ethereum is $344. In the future, we predict an increase, followed by a decline. The nearest resistance levels are $350, $380, $385, $390, $400, $410, $415, $420, $430, $440, $443, $470, $475, $500. The nearest support levels are $330, $325, $310, $300, $290, $277, $270, $260, $257, $250.
Technical analysis of Ripple (XRP):
Over the past 24 hours, the price of ripple grew to the resistance level of $0.2560. Then it dropped to the support level of $0.23. Now, the price of ripple is $0.2360. In the future, we predict an increase with a subsequent decline. The nearest resistance levels are $0.2440, $0.25, $0.2580, $0.26, $0.27, $0.28, $0.29, $0.2960, $0.30, $0.3080, $0.31, $0.32, $0.3250, $0.3450. The nearest support levels are $0.2350, $0.23, $0.2250, $0.22, $0.2150, $0.21, $0.2060, $0.2020, $0.20.
