Can Blockchain help Greece fight political corruption?

Greece is a country with many problems at the moment and most of the problems are rooted to the political system. Politicians abused billions of euros over the last 10 years bringing the country to the brink of economic collapse at 2015.

Today Greece is still trying to overcome this bad situation. But how Greek people can be sure that politicians aren’t still abusing the economy. Short answer, they can’t. The current system in Greece is so confusing and complicated that we can’t be really sure what is going on underneath it. There is no transparency off where the money really goes to or how much the country spend to improve it’s general infrastructure. So the question remains, is the current system capable of fighting corruption in many different levels?

Blockchainizing the public sector

Part of the problem in Greece is that public sector services are not united in a common system. This has the effect of failing to organize properly hence, some continue to exploit this situation even today. Because of that, Greece needs to find a new ways to face this problem.

One of these ways can be the implementation of blockchain technology to the public sector system. It will boost transparency of public documents and zero the ability of shady individuals to tamper them at will. As for the economic sector, a blockchain based system will zero the ability of politicians to abuse it, because now every civilian will be able to track all the public transactions the country does in real time. So if any shady business happens between politicians and individuals will be shown on the blockchain and people will start asking a lot of questions.

siemens Greece corruption

An example I can give you, that could have been resolved way easier and with true facts if the a system like that existed in Greece the previous years, is the Siemens bribery scandal. The Siemens bribery scandal in Greece is a corruption and bribery scandal in Greece over deals between Siemens AG and Greek government officials during the 2004 Summer Olympic Games in Athens, Greece regarding security systems and purchases by OTE in the 1990s.

Although there is no conclusive evidence, the scandal has created a serious change in the attitudes of the Greek public, most notably a dissatisfaction with both main political parties in Greece, New Democracy and Panhellenic Socialist Movement (PASOK) and creating a “hole of authority” leading to a vicious circle of political instability.

If the shady transactions were on a blockchain they could have been spotted almost immediately sending to prison those who got bribed.

Is Greece ready for a change?

Greece may be ready for a change, but I can’t tell the same thing for the people. So far only a few Greeks are aware of blockchain technology and cryptocurrencies. The rest have never heard of them or they just ignoring them, saying it’s something useless.

The young people though, are actually starting to learn about them in economic universities or computer science universities, which is a great step. I hope the next generation will understand the huge potential of blockchain and will start implementing it in their businesses bringing investments into the country.

If you are reading this article and you want to know more about blockchain and cryptocurrencies you can visit our website’s section Learn more or send us an e-mail at We will be more than happy to answer all your questions regarding the above topics.

Remember, the future is in our hands and we are the only ones who can change it and get rid of the unfairness of this corrupted world.

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