Corruption is everywhere. It is in our community, schools, and most of all businesses. This article dives into one of the most challenging issues organizational managers face today and how Blockchain mitigates it. “Based on a study of the global shipping industry, we find that blockchain mitigates both process and document-related corruption” (Jenson & Hedman, 2021, p. 1). Due to this study the development of a strategy for combating corruption using social and digital informational resources. This includes blockchain technology. Blockchain has two distinctive features. These include an unprecedented level of security and integrity of records (p. 339). These guarantee authenticity and also eliminate opportunities for falsification to include the risks of a single point of failure.
To understand how blockchain combats corruption practical implications need to be considered. The article explains that a shipping company used blockchain to streamline their document handling (p. 339). This was to eliminate the corruption within the reporting towards the parcel of doing business. In connection to the Transparency International, it is determined that the fundamental issue with corruption is it corrodes the fabric of society (p. 340). Explained it the recognition of corruption as well as the anti-corruption activities in the world. Since blockchain is a distributed technology there is a sense of transparency withing the peer-to-peer communication networks. It helps with the reduction of logistical cost and optimizes operations (p. 341).
The methodology of blockchain and data collection is and ongoing process. The theme of corruption and the use of blockchain to mitigate it is where the authors established claim. However, it wasn’t always a concern. Governmental authorities developed anti-corruption bodies and several IT-related people to develop strategies for mitigation. The information technology groups developed complex algorithms for corruption management. Regardless, corruption still occurred. They were not able to stop falsification of documents. Blockchain mitigates that.
The choice for using this article is simple. Understanding why blockchain is used helped with my understanding of IT security. Combating information and technology security is an ongoing matter. Blockchain seems like a development worth it. Creation and mitigation of corruption at the information level is a start.
Reference:
Sarker, S., Henningsson, S., Jenson, T., Hedman, J., (06 August 2021). The Use of Blockchain As A Resource For Combating Corruption in Global Shipping: An Interpretive Case Study, Journal of Management Information Systems, Charlottesville, VA: Routledge Taylor & Francis Group. https://doi.org/10.1080/07421222.2021.1912919