Blockchain in Bangladesh & the way to transparency

Blockchain technology is rapidly becoming one of the most transformative innovations of our time-promising greater transparency, security, and efficiency in how we store and share information. While still in its early stages in Bangladesh, blockchain's potential spans critical sectors such as land administration, government documentation, voting, business, and agriculture. If adopted effectively, it could revolutionise our economy, public services, and governance.

But what exactly is blockchain? The term itself-composed of "block" and "chain"-offers insight into how the system works. Data is stored in blocks, encrypted, and each block is digitally linked to the previous one, forming a secure chain. What makes blockchain unique is its decentralised structure. Instead of a single authority controlling the data, information is stored across a network of computers. This makes tampering virtually impossible and enhances both transparency and data security.

Bangladesh has begun to explore this technology. In 2020, the National Blockchain Strategy was introduced under the guidance of the Bangladesh Computer Council (BCC). This initiative prioritises applications like land records, education data, healthcare, and document authentication. Several banks have already begun experimenting with blockchain to streamline financial services. Universities and training institutions have also started offering courses and organising workshops to build expertise in the field.

Despite this progress, public understanding of blockchain remains limited. For many, the term is synonymous only with cryptocurrency, especially Bitcoin. However, blockchain's utility extends far beyond digital currency.

For decades, land management in Bangladesh has been mired in corruption, manipulation, and inefficiency. Land disputes are among the most common causes of litigation. Blockchain could be a game-changer here. By digitising and securely recording land transactions on a blockchain network, ownership can be made transparent, verifiable, and unalterable. This would reduce fraud, speed up transactions, and restore trust in the land registry system.

Another promising use lies in securing vital government-issued documents like national ID cards, passports, birth certificates, and academic records. Blockchain could enable these to be issued and verified digitally, cutting down on forgeries and saving both time and public resources. For the private sector, sensitive documents such as contracts or certificates could also be safeguarded using the same system.

Bangladesh's electoral system has long faced challenges over transparency and public confidence. Allegations of vote rigging, ballot stuffing, and lack of accountability are common. Blockchain-based e-voting could address these concerns. Voters could cast their ballots securely from any location, with each vote permanently recorded and verifiable. Such a system would not only protect the integrity of the vote but also empower more citizens to participate in the democratic process.

The financial sector is already seeing the benefits of blockchain. Banks using the technology can process transactions faster, more securely, and with lower overhead. For remittance-the lifeblood of many households in Bangladesh-blockchain can enable faster, more secure money transfers with fewer intermediaries and reduced costs. Smart contracts, which automatically execute agreements once conditions are met, could further streamline business processes.

Our agriculture sector, a vital part of the economy, can also gain from blockchain. The entire journey of agricultural goods-from farm to market-can be recorded on a blockchain, ensuring transparency at every step. Consumers would be able to verify the origin and handling of products, while farmers could access fairer markets and better pricing. This could help dismantle harmful syndicates and promote more equitable trade.

While the promise of blockchain is immense, several challenges must be addressed. First, there is a widespread lack of awareness and technical understanding. Most people remain unaware of its real-world applications beyond cryptocurrency. Second, Bangladesh lacks a sufficient number of professionals trained in blockchain development and maintenance. Third, our internet infrastructure-especially in rural areas-is not yet capable of supporting the secure and high-speed connectivity that blockchain requires. In addition, integrating this technology with existing legacy systems and outdated databases can be time-consuming and technically complex.

To fully unlock blockchain's potential, Bangladesh must adopt a coordinated, multi-pronged approach that addresses both technological and human resource readiness. To begin with, public awareness campaigns are essential to educate citizens about the broader applications of blockchain beyond cryptocurrency; this can be achieved through workshops, media outreach, and targeted educational content. Alongside this, the expansion of skill development initiatives-such as specialised training programmes and academic courses-will help cultivate a workforce capable of developing and managing blockchain solutions.

 At the same time, investments in infrastructure, including robust data centres, expanded internet coverage, and enhanced cyber-security capabilities, are critical to support the safe and efficient operation of blockchain platforms. Finally, launching pilot projects in key public service areas, such as land records management or document authentication, can act as proof-of-concept models fostering public trust and demonstrating blockchain's practical benefits.

On the whole, blockchain is not merely a technical innovation; it is a tool for rebuilding trust in systems that have long suffered from inefficiency and opacity. For Bangladesh, this technology offers a historic opportunity to modernise governance, boost economic efficiency, and empower citizens. With strategic planning and political will, blockchain can be a pillar of Digital Bangladesh and a driver of a more accountable, inclusive future.

Md. Farooque Hossain, an IT professional, works for Thakral Information Systems Pvt. Ltd, Dhaka, Bangladesh.

mailfarooque78@gmail.com