FixNix Blog

Blockchain and whistle blowers

May 10, 2019 5:05:16 AM / by Prasanna Venkatesh

A whistleblower is a person who comes forward and shares his/her knowledge on any wrongdoing which he/she thinks is happening in the whole organisation or in a specific department. A whistleblower could be an employee, contractor, or a supplier who becomes aware of any illegal activities.

To protect whistleblowers from losing their job or getting mistreated there are specific laws. Most companies have a separate policy which clearly states how to report such an incident.

A whistleblower can file a lawsuit or register a complaint with higher authorities who will trigger a criminal investigation against the company or any individual department.

There are two types of whistleblowers: internal and external. Internal whistleblowers are those who report the misconduct, fraud, or indiscipline to senior officers of the organisation such as Head Human Resource or CEO.

External whistleblowing is a term used when whistleblowers report the wrongdoings to people outside the organisation such as the media, higher government officials, or police.

The Whistleblower Protection Act, 2011 in chapter V “PROTECTION TO THE PERSONS MAKING DISCLOSURE “ gives in detail the policy and laws against Safeguards against victimisation, Protection of witnesses and other persons, Protection of identity of complainant.

But what if we can provide a platform where the whistleblower does not require any kind of protection as the identity remains unknown to all only the whistleblower himself. Blockchain provides just the thing.

Here’s how block chain works:

  1. Makes permanent copies of every transaction.
  2. Gives a copy to everyone in the system every time.
  3. Uses cryptography to guard against fraud.

 

The identity of any whistleblower no matter how big or small the fraud is needs to be protected and blockchain helps in keeping all the information secure and extremely difficult to acquire by any means. Blockchain whistle blower will help protect lives of every whistleblower and provide all the information of any fraudulent activity to the right authority.

Topics: grc, Whistle blower, blockchain, Blog, cybersceurity, Regtech

Prasanna Venkatesh

Written by Prasanna Venkatesh

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