Putting every Pound of the budget on a Blockchain - running the city of London transparently and accountably.
'Now, for the first time, the radically disruptive technology of block chains can provide a technological backbone for true, 100 percent transparency. Political accountability, it seems, is about to take on a whole new meaning.' - George Galloway.
Working with 'The Internet of Blockchains' - Blocknet and Horizon Blockchain - the Mayor's Blockchain will be the first 100% fully transparent and accountable public ledger. The project will help fund the initial consultation and proposal submission by various experts of our tech partners.
With infinite scalability, the Blockchain budget can start from one small department, to replacing every bloated budgetary system currently in place in the city of London.
The public will be able to see every transaction that's taken place - there will be full disclosure of how much money is being spent, what on, with whom.
We believe that we can make at least 5% savings from the approximated £17 billion annual budget - this gives almost £9 million revenue to spend on areas needing the help most.
No more scandals like this: City Hall staff spend £250,000 on credit cards paid for by us.
The city hall will have to account for the work subcontracted out, any procurements it makes - no more favouritism to give work to whoever they prefer, but efficiency and deliverables becomes the key.
For the first time, we can remove the waste and inefficiency that is heard in the news every other day - but has little power to do anything about as a public.
'A blockchain is an immutable, permanent record of data, stored on every computer in a peer-to-peer network, in such a way that anyone using it can prove, mathematically, that the data is a faithful account of occurrences, even if the user does not trust anyone delivering the data. As such, using blockchains to account for government budgetary allocations and spending will enable the public to know exactly how funds are being used, as they are used.'
You can also show your support for George's campaign via: https://www.startjoin.com/galloway4London
Email him at [email protected]