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  Published Paper Details:

  Paper Title

Government Fund Allocation Using Blockchain

  Authors

  Jay Jagtap,  Pradhumna Jadhav,  Rushikesh Wanjale,  Ninad Mane,  Hema Kumbhar

  Keywords

Blockchain, HyperLedger, Security, Transparency, Encryption, Government Funds, Cryptography, AES

  Abstract


Governments need to cater to a huge number of responsibilities of a state. The working of state governments involves huge number of transactions towards various operations that need to be carried out throughout the state. This includes new projects, repair and maintenance works, awarding contracts, paying of government employees, farmer schemes and so on. A major obstacle that the top government face is the low level corruption that is sometimes not possible to track which deprives the state progress. Tracking it is a very complicated task due to the current system. But in proposed system we overcome this drawbacks by using block chain approach. We here make use of blockchain technology to secure the transactions at every stage while maintaining transparency in every transaction sealing every transaction with proofs as the funds move ahead. Blockchain is an evolving technology that maintains a chain of records known as blocks, connected through cryptography. Each block contains a unique identifier (cryptographic hash) of the previous block, a timestamp, and transaction data. The inherent design of a blockchain ensures that the data stored within it is highly resistant to unauthorized modifications. The proposed system focuses on enabling the tracking of funds allocated to the government throughout the entire allocation process. To ensure secure communication, key pair generation algorithms will be employed, enabling the establishment of trusted channels between relevant entities involved in fund allocation. Key pairs consist of a public key for secure data sharing and a private key for authentication and decryption. Moreover, metadata file decryption algorithms will be used to securely decrypt encrypted metadata associated with fund allocation transactions. This process allows authorized entities to verify transaction details, contributing to a higher level of transparency in the fund allocation process. Additionally, data verification algorithms will be implemented to ensure the integrity and authenticity of data stored within the blockchain. These algorithms play a crucial role in preventing unauthorized modifications to the blockchain records, preserving the immutability of the data By combining these proposed algorithms and harnessing the power of blockchain technology, this project aims to enhance the security, transparency, and integrity of government fund allocation. The utilization of key pair generation, metadata file decryption, and data verification algorithms enables efficient and accountable fund allocation within the government system.

  IJCRT's Publication Details

  Unique Identification Number - IJCRT23A5359

  Paper ID - 238650

  Page Number(s) - l400-l405

  Pubished in - Volume 11 | Issue 5 | May 2023

  DOI (Digital Object Identifier) -   

  Publisher Name - IJCRT | www.ijcrt.org | ISSN : 2320-2882

  E-ISSN Number - 2320-2882

  Cite this article

  Jay Jagtap,  Pradhumna Jadhav,  Rushikesh Wanjale,  Ninad Mane,  Hema Kumbhar,   "Government Fund Allocation Using Blockchain", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.11, Issue 5, pp.l400-l405, May 2023, Available at :http://www.ijcrt.org/papers/IJCRT23A5359.pdf

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ISSN: 2320-2882
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ISSN and 7.97 Impact Factor Details


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ISSN: 2320-2882
Impact Factor: 7.97 and ISSN APPROVED
Journal Starting Year (ESTD) : 2013
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