The German KfW Development Bank has developed a blockchain-based software which can serve as a collaborative platform for the management of funds. TruBudget allows to a group of stakeholders to work and agree on all steps of the implementation of a public or donor funded project. As all changes on that platform are recorded on a blockchain, all decisions taken by the responsible partners are stored in a tamper-resistant way. Users may see anytime the current status of implementation, the full history of actions and responsibilities and may therefore trace the use of project-related funds. By providing trust and transparency governments will improve efficiency of public and donor funding and facilitate access to innovative financing models.
In this interactive session participants will understand more about the importance of transparency and how innovative technologies may provide and share trusted data in the interest of all.
Participants will be asked to comment on challenges and prospects of a disruptive tool like TruBudget from the perspectives of civil society, government, private companies and development partners.
- What are the stakeholders interests in the area of public investments?
- What are the borderlines of transparency in the use of public funds
- What is the supposed impact of transparency created by technology?
The aim of the event is to assess the potential of an open source blockchain technology for transparency and accountability in the african context. The number of participants is not limited.