Using blockchain for poverty alleviation

2022

The development of technology introduces people to the topic of the Internet of Things (IoT), artificial intelligence (AI), big data, and the blockchain. The blockchain became popular in 2009 and growing rapidly because the use of the Blockchain tends to be profitable in the business and government systems. This study aims to identify and analyze regulations regarding blockchain in Indonesia. This study compares blockchain regulation in Indonesia with countries in the Americas, Europe, and Asia. Based on regulatory comparisons with several countries, blockchain regulation in Indonesia is still weak. The blockchain, which stores several smart contracts, needs to be further regulated in the legislation. The use of blockchain that knows no boundaries of time and territory is the government's task in making several regulations, including regulations regarding taxation, protection of personal data, and prevention of money laundering and terrorist financing. One way that can be done is to fulfill the recommendations from the FATF which has previously regulated how blockchain works. In addition to the government, the active role of the community, especially crypto asset trading actors is needed to build a healthy ecosystem and bring prosperity to society and the country.

We all know the story. Government made a forecast of its expenditures and revenues in every fiscal year; Government disbursed the funds, poverty rate decreased, income inequality stayed volatile. Everything was in balance until the UN announces SDGs (Sustainable Development Goals, a joint agreement to make the world in its best possible form by 2030, without a single person living in less than 1.90 US Dollar a day. Now policymakers have been craving for a solution to realise this demanding goal. Blockchain quickly intrudes Blockchain BY NAMIRA SAMIR into the life of many, including those sitting at the highest level of leadership. Sadly, many would think of it as a trivial revolution. Will time change our mind? It is the year 2030, and Indonesia, after an utter failure of reaching the 0% of poverty rate by 2030 professed "If only I had the chance to do one thing differently, it was to adopt Blockchain technology nationally when it was first being introduced".

2019

Blockchain technology is thrown around as a fix for many logistical issues, including how societies keeps track of identity. 1.1 billion people currently lack any form of identity, and billions of people with identity find their personal data out of their control. Billions suffer when physical forms of identity are taken, destroyed, misplaced, or forged. The Equifax and Facebook-Cambridge Analytica hacks demonstrate the severe impacts of identity and data mismanagement. The European Migration Crisis exemplifies the drawbacks of immigration systems when physical identity forms are missing and the strenuous process of determining backgrounds and identity. This thesis evaluates blockchain technology as a solution to the identity crisis. The thesis analyzes the specifics of the technology to see if it can function as an identity management system. It will then assess the viability of blockchain based digital identity projects. The paper will then apply the technology in hypothetical use cases and determine how blockchain architecture can empower individuals to reclaim control of their identity, especially in refugee and trafficking crises.

FIELD REPORT On the Emergent Use of Distributed Ledger Technologies for Identity Management, 2019

Our ability to address complex public problems using data depends vitally on how our data ecosystems are designed (including how questions over representation, power and data stewardship are addressed). Design shortcomings may prevent us from addressing complex public problems and may also be responsible for many societal failures and inequalities. Information asymmetries are among the most common, and most persistent, of these shortcomings.

Norwegian Journal of development of the International Science, 2022

The article is devoted to the study of the possibilities of using blockchain technology to achieve the Sustain- able Development Goals. It substantiates the importance of such qualities of technology as decentralization, con- fidentiality and identifiability, transparency and security of transactions. The prospects of blockchain technology application for solving environmental and social problems, the development of health care and education are dis- cussed..

5irechain, 2021

The field of sustainability is one of the areas where the efforts of the international community are scarce and deficient. Therefore, blockchain could be implemented to improve and advance in the achievement of global objectives. While the original applications of this technology focused on the financial sector, as it has evolved its uses have been extended to other areas such as the field of sustainability which this study addresses. This study presents the opportunities offered by blockchain towards UN Sustainable Development Goals (SDGs).

ECONOMICS

Blockchain technology originally finding applications in Fintech and supply chain management is rapidly expanding applications to other industries as well as the public sector. “Blockchain has been compared to the invention of the internet and its comprehensive impact on almost every industry.” R. Beck and B. Markey-Towler (2017) A recent study by PWC (2020) found that, “Blockchain technology has the potential to boost global gross domestic product by $1.76 trillion USD over this decade.” It has been argued that the digital revolution has favored more developed nations and that has helped create a “digital divide” with less developed nations. Business and governmental infrastructure in developing nations have lagged that of more developed nations. Some of these challenges faced by developing nations include the registration of property ownership, financial systems, modern efficient supply chains often accompanied by a lack of trust and the ability to verify and audit organizational ...

Ekonomia XXI Wieku, 2019

Distributed Ledger Technologies (DLTs) have become a topic that is being more and more discussed in political, economic and scientific discourses. , also within economic sciences. Their potential to redefine many processes in the economy is growing, and there is a consensus in the scientific community about their revolutionary character. Blockchain is one of the DLTs and one of the breakthrough technologies distinctive for the Fourth Industrial Revolution. The aim of the paper is to draw attention to the potential of blockchain technology for developing countries and how it can contribute to the improvement of quality of life and fighting poverty. Following Schwab's thesis, "the extent to which society embraces technological innovation is a major determinant of progress". Therefore, developing countries should not disregard the potential of blockchain technology that can solve a lot of current problems and provide access to previously unreachable services with a relatively low cost (both implementation and subsequent maintenance cost).

Journal of International Humanitarian Action

Blockchain technology is swiftly entering the fields of humanitarian and development aid. While it has the potential to revolutionize the aid sector, e.g., through pairing smart contracts with forecast-based financing, it also has the potential to perpetuate societal problems and add new risks. This essay outlines the use cases of Blockchain technology for the humanitarian and development sectors and reflects on potentials and pitfalls that come with the adaptation of this new technology.

International Journal of Latest Research in Engineering and Technology, 2018

Blockchain is receiving ever-growing attention from research and industry and is considered a breakthrough technology. This paper presents an overview of Blockchain Technology and its potential applications in developing countries especially Uganda. It was noted thatthese nations have the potential to progress, but do not have adequate access to present day technology, primarily due to lack of infrastructure and thus Blockchain Technology will fill the gaps. Fundamentally, these nations need transparency, security, and accountability in their processes, all of which are cornerstones of Blockchain technology. Finally, this paper reveals that due to the support from both government and non-governmental organizations, and the establishment of the Blockchain Association of Uganda, Uganda is ready forBlockchain Technology.