A London Evening Standard article has again highlighted the issue of the excessive expenses of city officials. Depending on whether one has an axe to grind, or if you are playing defense, one can argue the merits of the case either way. However, this has illustrated again the need for the Mayor’s Chain.
Public oversight with built-in transparency operating in close to real time, the blockchain enabled Mayor’s Chain will prompt swift and precise action when required. Action will no longer take the form of witch hunts, storms in teacups or finger pointing frenzies long after the horse has bolted.
A Mayor’s Blockchain will provide a level of accountability and inclusiveness that brings us all together, since spending and public backing will be more closely aligned.
The newspaper claims to have uncovered a large increase in spending under the incumbent Mayor of London, including some dubious items that highlight what seems to be a propensity for excess. Since the actual transactions took place some time ago it is more difficult to establish their necessity or desirability. Without getting into the validity of the newspaper’s claims, if there had been irregular spending, and the newspaper had not uncovered the credit card records, the question begs whether any action would have been taken. With Mayor’s Chain there would be full disclosure as a matter of course. This will have the effect that officials will be highly vigilant over their spending habits, and perhaps not inclined to “take a chance”.