Blockchain in Voting Sector Services

The ability of Blockchain technology to improve existing systems is its primary value. Around the world, more and more sectors are adopting blockchain technology. Additionally, the potential of blockchain for voting is being closely examined by various nations.

The blockchain is evolving into an extremely safe, functional, anonymous, and readable record logger for bitcoin trade. It can also record votes, which smart agreements can frequently verify. Additionally, by eradicating voter fraud, the blockchain makes it possible to hold secure, reliable, and democratic elections.

Because the blockchain's consistent feature has made it a popular ballot box for the poor, blockchain-enabled voting systems have been put out as the next generation of contemporary electronic voting systems. Governments are being encouraged by blockchain technology to develop sustainable voting methods and accumulate statistics on such systems. assures the availability of accurate information about sustainable assets to all stakeholders. The emblem is crucial because it highlights the fact that even if blockchain is frequently used in electronic voting systems to increase security, there are still a number of problems.

A positive sign is that analysts are increasingly showing confidence that crypto prices may have bottomed out. JPMorgan said in a recent note that limited new contagion from the collapse of the Terra ecosystem and positive data flow from Ethereum’s testnets raised expectations that the merge will happen in 2022. Both these
have been the main drivers of the current recovery. Analysts at JPMorgan believe that crypto prices may have “found a floor.”

Bloomberg Intelligence senior commodity strategist Mike McGlone and senior market structure analyst Jamie Coutts said in the August “Crypto Outlook” report that Bitcoin may be building a base “akin to about $5,000 in 2018-19.” The analysts said that the “risk vs. reward tilted favourably for one of the greatest bull markets in
history, potentially starting a revival after a sharp retreat.”

We highlighted in our previous analysis that the 20-day exponential moving average (EMA) was an important level to keep an eye on because a bounce off it could result in a retest of the overhead resistance at $24,666 and that is how it played out.

Bitcoin has formed a series of higher lows though it has not been able to form higher highs. This indicates that bears are posing a strong challenge at $24,666 but bulls are buying on every minor dip.