• The country is in a situation where it wants to move away from corrupt or unaccountable government practices.
• All procurements can be done on a Blockchain ledger which is visible for all to see.
• Zambia needs to move more towards that direction.

A Financial Analyst says Zambia needs to embrace the use of Blockchain technology as a tool to increase accountability in government spending.
Speaking to Money FM News, Webster Matambo notes that the country is currently in a situation where it wants to move away from corrupt or unaccountable government practices, hence all procurements can be done on a Blockchain ledger which is visible for all to see.
Mr. Matambo states that this can check make it easy for everyone to see the procurements that are not meeting the Key Performance Indicators (KPIs) and adjustments can be done in that regard.
“We are in a situation right now as a country where we want to move away from corrupt or unaccountable government practices, so we can start looking at Blockchain technology as a tool that we can use to increase accountability in our government spending.”
“So for example, you could have all procurements done on a Blockchain ledger visible for all to see so that we can check which ones are not up to the Key Performance Indicators (KPIs) that are not meeting those indicators and procurement adjustments can be done in that regard,” Mr. Matambo suggested.
He noted that a lot of positive developments have happened in the crypto markets in the last few days, therefore there is need for Zambia to move more towards that direction for easier international payments and reduced costs.
“I think we need to move more towards that direction and also for easier international payments and reduced costs towards this. We have seen nice developments that are happening in the crypto markets, the sector has been doing quite well over the past few days, with huge surge in percentages that have happened there,” he noted.
Blockchain is a method of recording information that makes it impossible or difficult for the system to be changed, hacked, or manipulated.