How block chain technology can be used to promote accountability, transparency and efficiency in distribution of scholarships?

The blockchain technology works on the concept of decentralized and shared database where each computer has a copy of the database. Basis on this we can define a system for scholarship that allows a group of nodes to maintain a single updated and secure ledger. Each node maintains an ‘append copy’ open ledger which is updated only after all the nodes within the network authenticate the transaction.

All the members in the network keeps a copy of blockchain and so it is not possible for a single member of network to make changes or alter data.

Hence we can say sue to its decentralized nature and openness and security, blockchain are being as one of the ways to ensure transparency, accountability and efficiency in distribution of scholarship.

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