Blockchain is about more than just cryptocurrency
Blockchain is often pigeonholed as just a system of cryptocurrencies. While technologies using these cryptocurrencies advance everyday, the potential applications of blockchain technology span further than this. Blockchain can change the world. Its decentralized nature breaks down barriers between people in ways that were never previously possible. With the help of blockchain, companies are making strides with humanitarian aid, environmental reforms, and career development.
Blockchain has major philanthropic potential. In the past, the underprivileged were dependent on inefficient, centralized systems to receive aid. Centralized systems such as federal aid programs or charities can be disorganized and vague about donor distribution. With the use of blockchain systems, aid can be tracked more effectively. In the past, the Kenyan government faced issues with fraud and money laundering. The Kenyan government is now planning on building 500,000 homes within four years for those under the poverty line. By utilizing the capabilities enabled by blockchain technology, officials will now be able to securely distribute homes to those in need.
Platin, a cryptocurrency with a secure Proof of Location, is also helping those in need. Platin has created a new technology that is now decentralizing humanitarian aid. It connects people from around the world with those in need after majors disasters using geographic airdrops. It makes the need for intermediary donor sites obsolete. By decentralizing donor ship, Platin ensures that donated money is distributed to locations that are impacted. Platin also has a state-of-the-art tracking feature that notifies donors when the aid reaches its targeted communities. Blockchain can help break down the barriers between donors and those in need and assist people with a level of security never previously possible.
Blockchain can also reward people for making smart environmental choices. In the past, recycling incentives were generally initiated by governments. Today, Social Plastic, or Plastic Bank, is developing an app for third world countries that uses blockchain technology to reward people in virtual tokens for recycling used plastic. Social Plastic’s new app has the capability to incentivize people to clean up the environment while decreasing poverty.
In countries across Europe, blockchain is helping individuals ween off their dependence on fossil fuels. By using blockchain to combine multiple energy alternatives, citizens are able to store and share green energy. This technology has the capability to meet 90 percent of citizens’ energy needs.
Previously, in Singapore, only big monopolized companies had the financial means to purchase green power sources. Now, a Singaporean company is helping individual consumers buy green energy through a blockchain platform. Environmentally-forward blockchain companies like these can help motivate individuals to make small eco-friendly choices to better their lives and positively impact the future of our planet.
Blockchain technology can help people pursuing their passions. Centralized systems often leave small companies and freelancers exploited in our capitalistic economy. Blockchain companies, such Blue Whale Foundation, are helping decentralize the freelancing industry and give more back to independent workers. It provides essential benefits such as insurance and paid time off of big companies without the unnecessary operations costs of centralized platforms.
Blockchain platforms, such as Verisart, make it possible for artists to copyright their digital creative works and sell their art on decentralized markets. Through these markets, artists are able to reach their consumers without marketplace fees.
Blockchain is also creating new opportunities for artists to expand their creative bounds through technological art. Snark.art, a company that collaborates art and technology, is using a Ethereum platform to allow artists to make blockchain-based art.
Whether it’s creating homes in developing countries, rewarding people for their environmentally-friendly choices or helping small artists protect their creative work, blockchain is offers answers to some of the toughest questions of our time. Blockchain is often confined and stereotyped as a financial solution to our centralized economy; however, its capabilities go much further. Cryptocurrency is just one of the thousands of ways blockchain will kickstart a decentralized future. Blockchain technology is not just about money. It’s about people.