How blockchain-based voting can restore trust in the electoral process

Blockchain-based voting systems can increase transparency and public trust in the electoral process, said Brian Rose, an independent mayoral candidate in London and host of the London Real podcast.

Rose told Cointelegraph in an exclusive interview.

“Wouldn't we all sleep better at night if the voting system was on the blockchain and they could actually verify the identity and verify the vote and have an immutable record? That's the future and I think someone like me who comes from business and has been closely involved in blockchain.”

In recent years, public trust in electoral processes and political parties has achieved considerable success. In the year In 2023, only 12% of people in the UK said they had confidence in political parties, down from 20% in 2022, according to a report by the Office for National Statistics (ONS) published in March 2024.

Rose explained that he still has faith in the UK's electoral system, but sees huge public benefits in introducing blockchain-based voting:

I'm not saying the UK electoral system is wrong, but the problem is when people get involved sometimes things don't go as planned. So we want to vote on blockchain.

In addition to introducing an on-chain voting system, Rose also aims to make London more conducive to crypto innovation in order to restore London's status as a leading global financial center. he said:

“[London] It's not pro-crypto, but it used to be the largest financial center in the world.

The former Wall Street banker said that financial education is severely lacking in the country, which is why he plans to create a new London cryptocurrency and financial education platform to empower citizens.

“Financial education is king. But the only way now is to do it with blockchain. […] I also created the London Coin and I want to eventually create a system of financial education, putting it in the hands of every man, woman and child in this city.

While the details of the London Token are still being finalized, Rose said it will function as a standard token and could be launched on the Polygon or Avalanche blockchains.

Rose plans to provide everyday utilities for London crypto, including stock exchange, public transport payment, taxes and other public services.

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Financial institutions pay a 1% financial education levy on London coins.

The independent mayoral candidate plans to issue London Tokens to around 10 million people living in the Greater London area to encourage users to learn about the intricacies of blockchain and crypto.

To subsidize the costs, large financial institutions headquartered in London are required to pay a 1% tax:

“Behind me, we will give a 1% one-off financial education levy to an institution with global headquarters in the City of London, which will be a pool of liquidity injected into the London coin.”

Rose says he has invested more than $10 million in 40 different Web3 companies, which is one reason he is confident in the potential of blockchain technology.

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