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Can Blockchain Bring an End to CorruptionLONDON, January 4, 2018 /PRNewswire/ -- The Roman historian Tacitus once famously quipped "the more corrupt the state, the more numerous the laws". Every year, roughly 2 percent of global GDP is lost to public sector corruption alone - at a hefty $2 trillion this equals to Italy's GDP. Included in today's commentary: Pure Storage Inc (NYSE:PSTG), Microsoft (NASDAQ:MSFT), Nvidia Corporation (NYSE:NVDA), Cisco Sytems (NASDAQ: CSCO), Advanced Micro Devices Inc (NASDAQ:AMD). Blockchain-based voting mechanisms would ultimately lead to the demise of dictatorships which maintain the superficial appearance of a democracy - decentralized technology is the exact opposite of what repressive regimes can survive under. Evidence shows that the implementation of blockchain mechanisms can not only cleanse a given country's political system, but could also spur economic growth. Should public land registries across Africa be made fully transparent, land might be used as collateral for loans, thereby allowing millions of entrepreneurial Africans to leverage their property. This is supported by academic evidence; namely, that any reduction in corruption levels bolsters domestic and foreign investment as the fears of economic actors that the allocation of resources is disproportionally skewed gradually subside. International organizations might also put blockchain to good account. The international football association, FIFA, has been bogged down in myriad scandals with regard to its decision-making mechanisms. With blockchain, voting procedures would be as transparent as crystal, massively narrowing down the potentiality of another bribery scandal. Even greater gains could be attained in international aid, the sphere where misappropriation reached its full zenith. Blockchain would allow to track down all financial transactions which followed the assignment of humanitarian or development aid - this is sorely needed as the history of World Bank development loans is replete with stories when the allocated funds were misused by a third-world country tribe chief to build a football stadium even though the declared objective was to build a school or hospital. Some might perceive blockchain as a direct threat to the way governments exist nowadays, yet one could hardly find a better tool to dramatically increase the efficiency of public authorities with little to no transition roadblocks. Big banks and major corporations are already taking advantage of this technology. At the center of the blockchain boom in banking is the R3 Consortium. Since its inception in 2014, the consortium has been joined by a number of the world's top banks, including Goldman Sachs, JP Morgan, and Citi. In addition to its impressive list of members, the consortium is also partnered with the likes of Microsoft, Intel, HP and InfoSys. Immutability of data and process transparency will become key concepts of the 21st century and blockchain will prove that our past understanding of transparency was just a pale version of what can be achieved. As demonstrated by Global Blockchain Technologies, moving towards blockchain is not a question of 'if'--rather of 'when' - and that 'when' will happen very soon. Companies to keep an eye on in this space: Pure Storage Inc (NYSE:PSTG) knows that data platforms are also a key asset in protecting companies against cyber-attacks. Pure Storage, Inc is a data platform focused on delivering fast, optimized and cloud-capable solutions for its customers while keeping data security as a top priority. Microsoft (NASDAQ:MSFT) is one of the most innovative and well-known companies within the tech sector, but its Windows platform is the most widely used operating system on the planet. First launched in 1985, Windows has shaped what is expected from a personal home computer. Nvidia Corporation (NYSE:NVDA): Nvidia is one of the hottest stocks on the market right now, and the top performer across the entire S&P 500. This stock has gone in only one direction-up. NVDA designs graphics processing units for the gaming and professional markets, as well as system on a chip unit for the mobile computing and automotive market. Nvidia's chips are the best out there-at least the fastest. Cisco Sytems (NASDAQ: CSCO) is a major player in telecommunications hardware. With a market cap of more than $185 billion, the company earned $49 billion in 2015 and $48 billion in 2016. For years Cisco was a stable stock, though one that showed very little growth. But in 2018 the company plans on pivoting away from its old staples towards new products. Advanced Micro Devices Inc (NASDAQ:AMD) is Nvidia's biggest competitor. The company has developed a cult following among gamers, leading to many a Reddit debate. AMD's groundbreaking technology not only rivals that of Nvidia, some even argue that it outperforms it. As the two square off, one of the key areas to keep an eye on is in the GPU race.
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