How Blockchain Technologies could help to solve many problems of developing countries.

Xcel Pay
Xcel Pay
Nov 4 · 2 min read

It is widely believed that blockchain technology can help solve many problems of developing countries. Let’s see few examples in order to confirm this point of view:

Denmark uses cryptocurrency to help developing countries

Denmark is planning to use a cryptocurrency to provide humanitarian assistance, such instance of a donor state using blockchain technology for humanitarian efforts. To this end, a report was developed by the Danish Ministry of Foreign Affairs, Sustainia Analytical Center and Coinify (Europe’s largest cryptocurrency platform) to examine how blockchain technology can solve problems that arise when providing assistance to developing countries. Specifically, the report identified how blockchain technology can provide fast and safe money transfers as well as which cryptocurrencies (or perhaps a completely new one) would be best-suited for humanitarian assistance.

Coinify creates methods for using cryptocurrency payments when working with off-grid sources of renewable electricity

Blockchain technology continues to evolve, and it will take some time for it to begin to be trusted. However, some specific projects for its use have already appeared. So, Coinify creates methods for using cryptocurrency payments when working with off-grid sources of renewable electricity. For example, you can transfer funds directly to the owner of a solar panel located in an African village.

Donation to the needs of specific projects

Another option is an online center where people will donate to the needs of specific projects, for example, to build schools, railways and bridges. The use of smart contracts ensures that money is invested in the selected project, and not wasted. If the recipient collects funds, for example, for construction, he will be able to spend them only on cement and bricks, but not on the purchase of bananas.

Use our XcelPay Wallet in order to see all advantages of Blockchain Technologies!

XcelPay Wallet is a merchant POS, digital payment wallet and crypto payment gateway which is integrated into an easy to use crypto wallet that is empowered for both mobile and tablet use, makes sure that transferring and receiving payments in crypto is a secure process. XcelPay Wallet aims to cut out undesirable middlemen, bank/card transaction fees, currency conversion fees that produce a negative effect on the retailer’s and consumer’s margins. The Wallet allows you to top-up mobile phone plans with 900 different carrier services and in 160 countries, with Ethereum and Bitcoin and other Cryptocurrencies.

XcelLab Magazine

XcelLab has embarked on an ambitious journey to build an eco-system driven by blockchain technology, and crypto use-cases that are built to address the issues and gaps in the travel, hospitality and retail industry.

Xcel Pay

Written by

Xcel Pay

The new age Integrated Crypto Wallet and Merchant POS is to disrupt the traditional payment solutions around the world.

XcelLab Magazine

XcelLab has embarked on an ambitious journey to build an eco-system driven by blockchain technology, and crypto use-cases that are built to address the issues and gaps in the travel, hospitality and retail industry.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade