How Blockchain Technology can change broken Social Sector?
The new Blockchain Technology, since it’s inception in 2008 has evolved massively and is already doing wonders. This technology has a huge potential to support the social sector. Wondering how? Read on.
Blockchain technology, which supports many cryptocurrencies, holds even greater promise for advancing social sector work. Blockchain is being explored and experimented with, by a number of international aid agencies and foundations, such as Unicef, World Bank, Bill and Melinda Gates Foundation etc. Projects cover a variety of areas, some of them being transparency of aid, international and local remittances, protection of property rights, secure voting, and environmental protection etc. The technology itself is complex (and geeky), but at its core, blockchain provides a digital mechanism for transparently recording and viewing any transaction. It operates through a decentralized computing network over which any record of transactions cannot be hacked or altered. While the Internet serves as an information exchange, Blockchain offers a “value exchange.”
One of the specific example is Indicoin, which is developed over Ethereum blockchain technology and is aimed towards transforming the society with it’s unique idea of social service i.e. “proof of work”. Now this idea has the potential to encourage the masses to work for the society wherein you get awarded for any and all constructive work you do that benefits the society. That sounds great! right?
Indicoin’s team works tirelessly to overcome all the odd barriers and the results have been always positive. This consistency from the past few months has resulted in the huge accomplishment of being listed on of the most technologically advanced exchange, HitBTC. This has brought enormous energy and enthusiasm among the team members, investors and the community to work and achieve even greater heights.
Indicoin’s DApp is going to be a one of a kind platform where various communities are going to come together and raise social issues and their solutions as well. The “proof of work” over the DApp is going to enable an individual or an organisation to upload a social work which will get upvoted/downvoted by the members. The final decision will be based on unanimous votes. INDI Tokens forged after the final call will be awarded to that individual/organisation that did the social work and also to the voters. This project is going to be revolutionary down the line. The utilisation of blockchain technology to improve the social sector is going to be interesting because various organisations have already realised the potential beneath this technology. The awakening is under process and the organisation like Indicoin is forehand at taking challenges to eradicate problems such as, but not limited to poverty, unemployment, environmental degradation, etc. and to make this world a better place.
The creators of this blockchain technology wish to enable a new form of global governance which transcends national borders and to fully establish democracy as a universal human right.
Indicoin and HitBTC have joined hands to takes this project to a whole new level. It will reach each individual so that they can take up a call and come together to renovate the society through this blockchain technology.
