1% of the world’s population now owns half the total amount of wealth across the globe. The rich keep getting richer, while the poor, are still as poor. Inequality of wage, race etc. alone can’t be blamed for this massive gap. One of the most important factor that comes into play is ‘Lack of Access’.
Facing The Hard Truth
A teen with high IQ, based in Ethiopia, Africa doesn’t have the same opportunities that an average IQ holding European does. A Syrian refugee who was an executive before he faced many perils on his life, ends up becoming a blue collared laborer to provide for his family as he is undocumented due to government red tape.
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About an average of 15% of immigrants are under the age of 5. There is no record of their immunization. We talk of a future where basic amenities and healthcare are easily available to all. But, how do we achieve that? This is where Blockchain technology can lead us through this digital abyss.
A Digital Hope
Blockchain is an inexpensive and transparent way to record transactions digitally. Debunking the common belief that blockchain are used only for monetary transactions, this blog focuses on manners in which it is playing a huge role in humanitarian efforts.
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Fraud, corruption, discrimination and mismanagement of funds are some of the reasons that aids that are meant to be for the people who are in need, never actually get any benefit from them. With blockchain technology, NGOs, government divisions and even philanthropists can send bitcoins or any form of cryptocurrencies for aid. This asset is then broken down in nodes of different types. Meaning, once money is acquired, it is used for purchasing either medicines, food or clothing from different sources. Blockchain monitors its distribution so that no one can cheat and take a bigger cut of the asset in return of smaller amount of supplies
With blockchain, organizations sending funds for any cause, be it Rohingya refugees in Bangladesh or even helping hurricane Irma survivors in Florida, they get complete transparency of where their funds are being used. By using a system called, ‘Smart Contract’ they manage assets like crypto currencies or even contracts of doctors or technicians who are helping with the relief aid.
Blockchains Implementation In Humanitarian Efforts
Maintaining Medical Records
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Since 2008, Estonia in northern Europe has started using this technology to help its citizens who were travelling all over Europe. One of the key feature of this system, was giving them access to their medical records in case of an accident. As of 2012, Estonia has operational Blockchain uses in its nation’s health, judiciary and border security.
Feeding The Hungry
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In recent times, the UN launched ‘World Food Program’. With the help of blockchain and its accurate location and digital nodes regarding quantity and quality, they delivered food and gave out cash assistance straight to needy families in Pakistan’s Sindh province.
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The Bill and Melinda Gates foundation has always been two steps ahead in the implementation of blockchain in social work. They have been using Blockchain technology since 2015 for their charity organization. They recently launched an app called, Mojaloop. Based on the Swahili word ‘One’, it is an open-source payment platform, designed by Ripple, for people who lack access to usual payment methods. With it, different companies can create their very own digital payments platform at a large scale.
We applaud this foundation and all that it continues to do for those in need.
Blockchain broke traditional centralized banking structures. In simple words, it erased middlemen making transactions much smoother. When we transfer assets via banks or money transmitting portals such as Global Money or Money Gram, they take up to a 10% cut of the principal amount as fees. With blockchain and cryptocurrencies, blue collar workers are reaping its benefits. They send an average of 60% of their remittance back home. The amount that is transferred, reaches directly without any loss in its value to families who in turn use it for their daily needs and thus boost the economy of their country.
Groups like ID 2020 & BitNation are currently using Blockchain technology to sync and link every citizen of the world. By making the world into a global platform where all citizen holds the same rights as everyone else is a testament to the amazing possibilities and opportunities that can be availed due to Blockchain. Technology is for everyone. All it requires is someone who could tweak it according to our needs.