Blockchain technology has the potential to revolutionize the lives of poor people around the world. This technology has the potential to create greater economic opportunities, reduce poverty, and increase access to basic services in underserved communities. Blockchain is a distributed ledger technology that enables secure, transparent and immutable records. This technology can be used to create digital identities and provide access to financial services. A significant number of poor people are often excluded from traditional financial services due to lack of access, lack of legal identification, and lack of financial literacy. Blockchain technology can provide them with access to financial services regardless of their geographic location or economic status.Blockchain also has the potential to reduce poverty by providing access to new sources of income. Through blockchain-based platforms such as Augur, people can participate in prediction markets and earn income from predicting outcomes of events. Other blockchain-based use cases also provide new streams of income such as Basic Attention Token and Nodle Cash. Low-income communities can also benefit from the rise of the “sharing economy”, which is facilitated by blockchain-based platforms. These platforms allow people to rent out their spare rooms and other assets, creating additional sources of income. Finally, blockchain technology can also increase access to basic services such as healthcare, education, and energy. By creating secure digital identities, blockchain can enable poor people to access healthcare services and receive essential services with greater efficiency and lower costs.
