Blockchain Social Impact: Help Bottom Billion

Block Chain is seen as a Business Boon and its inexorable rise will come to dominate a wide range of applications in the social and economic life of the world population.

According to a report; by 2027, 10 percent of global gross domestic product (GDP) will be stored on blockchains; a reflection of how dominant the transformational technology is likely to become within the next eight years in the era of digital economy.

International Data Corporation(IDC) predicts the market for blockchain spending will expand to $9.7 billion per year in 2021. That represents a fourfold rise in what was spent in 2018, when $2.1bn went towards blockchain projects.

SDG (Sustainable Development Goals)as defined by the United Nations (UN) to help out the bottom billion in the world in terms of health, education, food security, and sanitation requires to use of blockchain technologies underpinning cryptocurrency platforms having Digital Exchanges, wallets, and digital currency. Probably it will be a unique case of Blockchain technology in any developing economy to help out objectives of poverty alleviation and raising the standards of living of 40% of the population to access Universal Basic Income (UBI) Levels.

In the backdrop of increasing numbers of Block Chain or distributed ledger technology (DLT) platforms, the local or international NGOs, UNICEF, and Microfinance institutes can transform the donation process for disbursement of grants, aids, food and charity from a traditional and outdated manner which is non-transparent and prone to mismanagement and corruption, it's estimated that each

A Dollar donated is only disbursed only a few cents to the end? beneficiary.

These and other philanthropic activities are getting traction for sweeping the wave of Fin Tech to link donors and beneficiaries creating a significant social impact in the lives of haves-not.

Indeed,

blockchain has the potential to revolutionize the Donor programs by streamline processes, remove trust, increase transparency and security, and reduce costs and the ability to build blockchain networks that are interoperable.

So far Donations are easy to manage in crypto Currency or fiat where each transaction ID is created in a wallet and then linked to the donating person, but the entire loop of donation reaching the end beneficiary is always transparent.

To create a blockchain-based donation system that makes each transaction flow transparent, accountable, and efficient.

To work onsite to understand the local needs and develop solutions for specific social problems like poverty, hunger, disaster, or natural calamity.

Need to continuously test and improve solutions to scale up the social impact and the local needs and develop solutions for specific social problems like poverty, hunger, disaster, or natural calamity.

Facilitate in-depth cross-sectional dialogues at international events, enhance global awareness of the social power of blockchain, encourage applications at a greater scale, and make blockchain accessible to the youth and vulnerable communities.

To have a regulated fiat exchange (Crypto) that allows conversions from crypto to local currency which makes it easy for local beneficiaries to receive donations via cryptocurrency.

To establish a professional impact model based on ML/AI and collect relevant impact data to track the social impact of all the donations. To continuously improve the donation model and the process according to the impact results to help the most needed end beneficiaries with donations. For transparency, this report may publish an impact report to the public for each of the projects.

To promote, and spread the freedom of money, and ensure that everyone in the developing country, regardless of their social status or geographic location, should be entitled to possess this freedom. To share this freedom with people who are usually inaccessible to formal social and financial services.

Digital transformation may create an organization that enables charitable giving with cryptocurrency on its blockchain-enabled platform that provides transparent and immutable records of donations.

Pilot Project

To sign Memorandum of Understanding (MoU) with local NGOs and Microfinance institutes along with charity organizations to reach out to at least 100,000 kids and destitute to help them out with cryptocurrency or tokens for goods (until digital currency is regulated)?. Initial supplies may be in the form of:

Free Food

Text Books

Stationary items

Solar Panels

Laptops/Tabs

(courtesy: https://seed2sales.pk)

Blockchain Development Services #isoc @imtiazbaibers Imtiaz Ahmed Baibers #APNIC #Blockchain #binance #blockchain #AI #ML