GAHC is leveraging the potential of Blockchain to
Post# of 145152
Posted On: 06/24/2016 8:40:13 AM
GAHC is leveraging the potential of Blockchain to sign new opportunities in Elections & Voting, as the Company makes the necessary steps to become current.
Global Arena Holdings Inc, OTC:GAHC, is a Company you've likely seen making some major moves over the past 12 months. GAHC has made a nice comeback from a 52-week low of around .004 to .01 in the last week. This is especially interesting from a technical standpoint since GAHC traded as high as .16 in November of last year.
The price action is due in part to the Company's shareholder update released on the 15th of this month. In the update, GAHC signified that they are in process of making some significant adjustments; including timely filings, capital raising, acquisitions, partnerships and product development -- all contributing to the expansion and growth of GAHC 's core business. It will be great to see the Company achieve "Current" status with the SEC. In a press release shortly after, GAHC announced the addition of a new client, a major Union in Hawaii. This is exciting because the Hawaiian union engaged GAHC's subsidiary, 'GES' (Global Election Services) to run their election.
When I was first learning about the Company I was confused on what Blockchain is and how the technology can drive elections. Blockchain—a word you have likely heard, but may not fully understand. What is it, really, and why do people care? Blockchain, on its own, is a simple concept: it is a network comprised of nodes that cooperate with each other. When a new transaction occurs, copies of that record are sent to other nodes in the network for verification. Records cannot be added to the “ledger,” until approved by a consensus of the majority of the verifying nodes in the system. Verified transactions are added to public record as a block, and once there, they cannot be changed or deleted. In other words, these are certain, verifiable records that cannot be hidden or sabotaged. Additionally, the distributed consensus does not involve sharing confidential details or even the identities of those involved in the transaction, ensuring user privacy. With that in mind, several companies have begun to test the limits of blockchain beyond bitcoin, to try to identify the ways this innovation can be put to good use.
Think back to Bush v. Gore, the case and the incendiary controversy surrounding the election in the year 2000. The votes were so close in Florida that electors were unable to commit themselves to either candidate. Recounts were started and halted. Accusations of tampering and other improprieties within several precincts spread like wildfire. The Supreme Court itself made forays into the confusion. Is it possible that a technological advance like blockchain could be the way to prevent a similar situation from occurring?
The programmable nature of blockchain means that “transactions” do not necessarily have to be related to money, property, or other currencies; they can represent votes. The service has a verifiable, tamper-proof ledger that could contain those votes without showing the identities of the voters. It cannot be “hacked,” a fear that has compelled officials of the past to keep running elections the (arguably archaic) pencil-and-paper way. Once verified, the votes would be public record, a reliable source that would remain open and available for all. In short, the use of blockchain could revolutionize elections.
GAHC is already beginning to capitalize on the potential of blockchain for elections with the addition of the Hawaiian Union. We are eager to see what GAHC does next.
Global Arena Holdings Inc, OTC:GAHC, is a Company you've likely seen making some major moves over the past 12 months. GAHC has made a nice comeback from a 52-week low of around .004 to .01 in the last week. This is especially interesting from a technical standpoint since GAHC traded as high as .16 in November of last year.
The price action is due in part to the Company's shareholder update released on the 15th of this month. In the update, GAHC signified that they are in process of making some significant adjustments; including timely filings, capital raising, acquisitions, partnerships and product development -- all contributing to the expansion and growth of GAHC 's core business. It will be great to see the Company achieve "Current" status with the SEC. In a press release shortly after, GAHC announced the addition of a new client, a major Union in Hawaii. This is exciting because the Hawaiian union engaged GAHC's subsidiary, 'GES' (Global Election Services) to run their election.
When I was first learning about the Company I was confused on what Blockchain is and how the technology can drive elections. Blockchain—a word you have likely heard, but may not fully understand. What is it, really, and why do people care? Blockchain, on its own, is a simple concept: it is a network comprised of nodes that cooperate with each other. When a new transaction occurs, copies of that record are sent to other nodes in the network for verification. Records cannot be added to the “ledger,” until approved by a consensus of the majority of the verifying nodes in the system. Verified transactions are added to public record as a block, and once there, they cannot be changed or deleted. In other words, these are certain, verifiable records that cannot be hidden or sabotaged. Additionally, the distributed consensus does not involve sharing confidential details or even the identities of those involved in the transaction, ensuring user privacy. With that in mind, several companies have begun to test the limits of blockchain beyond bitcoin, to try to identify the ways this innovation can be put to good use.
Think back to Bush v. Gore, the case and the incendiary controversy surrounding the election in the year 2000. The votes were so close in Florida that electors were unable to commit themselves to either candidate. Recounts were started and halted. Accusations of tampering and other improprieties within several precincts spread like wildfire. The Supreme Court itself made forays into the confusion. Is it possible that a technological advance like blockchain could be the way to prevent a similar situation from occurring?
The programmable nature of blockchain means that “transactions” do not necessarily have to be related to money, property, or other currencies; they can represent votes. The service has a verifiable, tamper-proof ledger that could contain those votes without showing the identities of the voters. It cannot be “hacked,” a fear that has compelled officials of the past to keep running elections the (arguably archaic) pencil-and-paper way. Once verified, the votes would be public record, a reliable source that would remain open and available for all. In short, the use of blockchain could revolutionize elections.
GAHC is already beginning to capitalize on the potential of blockchain for elections with the addition of the Hawaiian Union. We are eager to see what GAHC does next.
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