Tech for Good: Can Blockchain be Used for Good?

Technology has improved the way we live, communicate, do business, and just about anything you can think of, but can it be used for good?

Modern technology has improved the way we live, communicate, do business, and just about anything you can think of. It has helped to provide better hospitals, schools, cars, smartphones, and even a more efficient way of transacting. One modern technology that has stolen the limelight is blockchain technology.

The distributed ledger as it is also called has various real-life use cases. Therefore, it can be used for good to create a more secure and transparent global economy. A recent study of 193 organizations, initiatives, and projects, who sought to use blockchain for social good, showed 86% of these initiatives made progress solving a genuine problem. In contrast, 20% wouldn’t have achieved a solution without using the blockchain.

Blockchain’s Innovation in Payments

Blockchain technology was launched in 2009, and since then, there has been an innovation in payments. Transactions can now be completed within the twinkle of an eye, instead of days. A recipient’s location is also not a deciding factor in how long these payments will be…