Blockchain technology has the potential to revolutionize the lives of poor and economically marginalized 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.
Understand Blockchain Technology
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.
People living in poverty 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.
Know the Landscape
“Be informed and aware of great use cases in blockchain.”
Through blockchain-based platforms such as Augur, people can participate in prediction markets and earn income from predicting outcomes of events. 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.
The GoodDollar protocol uses free market forces and principles of social investing to create a stream of free digital currency known as GoodDollars. GoodDollar is an anti-poverty protocol and DAO that creates an ongoing money flow of digital basic income that is given away to its members. Finally, blockchain technology can also increase access to basic services such as healthcare, education, and energy. By creating secure digital identities, blockchain can ensure economically marginalized people
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