Will Blockchain Revolutionize How We Vote?
Blockchain’s useful properties are well-documented. The decentralized public transaction ledger has seen increased adoption for a variety of use cases by different sectors, each intrigued by blockchain’s transparency, speed, and security (as well as cost-cutting potential). Now a Japanese city has introduced a blockchain-powered online voting system – an area of increasing interest for blockchain application.
The Japan Times reported that Tsukuba, a hub of scientific research in Japan, declared themselves the “first in the country” to use a blockchain-based voting system – in this case, voters were choosing which social contribution projects to support. Ballots were cast via a computer display, with voters scanning their “My Number” card (a 12-digit number analogous to American social security numbers) on a reader to verify their identity. Each vote was then secured via blockchain, preventing fraudulent votes or digital manipulation. Tsukaba’s mayor, Tatsuo Igarashi, counted himself among the converted: “I had thought it would involve more complicated procedures, but I found that it’s minimal and easy,” said Igarashi.
But the voting process was not without issues. Some voters forgot their passwords, an additional security measure beyond scanning their My Number cards; it was also difficult to tell if votes had been counted. Kazunori Kawamura, a professor at Tohoku University with experience studying online voting systems, told the Japan Times that, despite relative success, it would be “necessary to first enhance [a blockchain voting system’s] reputation by using it for voting by expatriates” – once trust was built, and fear of errors alleviated, organizing bodies might find it easier to introduce to voters.
Despite the initial trepidation and missteps, more municipalities around the world are finding uses for blockchain voting systems. Residents of Zug, Switzerland were able to vote via a smartphone app secured by blockchain in a June election, using the city’s eID system for voter identification. CNN reported in August that West Virginia will be the first state in America to allow voting via smartphone app – state residents serving abroad in the military will be able to cast their ballots through an app developed by Voatz, a Boston-based company.
Concerns remain about voter fraud, especially in light of Russian interference in elections in the United States and elsewhere. But companies offering app-based voting insist that their offerings are secure – West Virginian voters are required to upload photos of government-issued photo IDs and video of their face, for example before casting a ballot; the information is then verified by Voatz’s proprietary facial recognition software, after which users can place their vote.
Blockchain voting systems are in their nascent stages, and hurdles relating to perception and efficacy remain. But positive early returns have officials and experts alike convinced that blockchain will be useful in future elections as processes are fine-tuned and kinks are worked out. A modern, more-secure way of voting appears to be here to stay.
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JPYUSD's Indicator enters downward trend
The Aroon Indicator for JPYUSD entered a downward trend on April 18, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 330 similar instances where the Aroon Indicator formed such a pattern. In of the 330 cases the stock moved lower. This puts the odds of a downward move at .
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Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on April 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on JPYUSD as a result. In of 123 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for JPYUSD turned negative on April 11, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 97 similar instances when the indicator turned negative. In of the 97 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where JPYUSD declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
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The RSI Indicator shows that the ticker has stayed in the oversold zone for 7 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
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JPYUSD may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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