ABSTRACT
Accountability and transparency are vital components required for trust and honesty between a government and the people of a nation. Blockchain has been used extensively in healthcare, finance, and even in electoral processes for promoting accountability. In this study, we proposed a prototype application that ensures funds procured for a project are used appropriately and the risk of money laundering or fraud is reduced. Only valid transactions based on a smart contract criterion are executed and these transactions can be viewed by all parties in the system. A custom smart contract functionality for monitoring and verifying government-funded projects and a secure cryptocurrency wallet was combined and implemented. This study has shown the potentials and benefits of a blockchain platform in the management of funds for government projects and contracts in Nigeria.
Keywords:
Accountability, Public spending, Blockchain technology, Smart contract, Government projects.
