Tokenized Rights: The Solution to Sustainable Development
The current state of basic human rights access and distribution is lacking at best and wildly inefficient at worst. According to this site, nearly 1/4 of the entire human population (about 1.6 billion) lives with no reliable access to electricity. As of 2013, over 21 million children had not received recommended doses of important vaccinations, and currently over 750 million people lack access to clean, safe water. Clearly, current systems of resource distribution aren’t working.
But what’s the solution?
It’s possible that the answer is based on the blockchain: a tokenized system of digital rights which can be used to track distribution and ensure fair and transparent access to vital resources.
How would such a system work? There are a few possible courses of action.
Firstly, it seems most prudent to establish units of measurement and access as well as their allocation to each citizen covered under the tokenized rights platform. For the purpose of illustration, imagine a country with a severe water allocation problem. To solve this, they could track water usage by individual or business entity, and track the totals of such on a publicly viewable and unalterable blockchain ledger.
Each citizen in this lacking country could then be assigned a number of tokens corresponding to a certain amount of water access. Big data analysis could reveal average and acceptable usage rates for individuals and families, and after the economic calculations are made, the system would ensure balanced distribution to all.
Or, in another example, tokenized human rights could make an impact in elections and other political procedures. In countries with rampant electoral fraud and political collusion, the transparency and unalterability of a trustless blockchain environment could facilitate fair election and voting processes. Again, each eligible citizen (in a general election, for example) might receive a token to be used in selecting their candidate.
The origin and destination of each token “transaction” remains visible on a public ledger, and the election would maintain fairness and transparency. Then, in order to determine the winning candidate, the tokens could simply be tallied to determine the outcome. The decentralized database and blockchain record-keeping ensures that no one entity has any undue power over the others.
While token and blockchain tech may have some time before large-scale adoption in these areas of need comes to fruition, it’s revolutionary potential is difficult to deny. Platforms such as ixo are beginning to fill the needs of the impact economy, with the transformative ability to address and make real change in the global human rights crisis.