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7 Ways to Use Blockchain for International Development

Bangladesh startup company SOLshare offers a Blockchain-based "electrification swarm" service, which allows solar producers to sell solar electricity to their customers.
7 Ways to Use Blockchain for International Development

Blockchain is a technology that is the center of attention for the international development sector. Earlier, Devex reported that Blockchain's potential could be used to transform world developments. The World Economic Forum has called the Blockchain a "mega-trend." The Head of Innovation at the UK's Department for International Development, Tamara Giltsoff, called Blockchain the next technological game-changer. Now the United States Department of State is actively exploring the application of this technology for the development of international diplomacy and works.

Through research, conferences, and various meetings, this community tries to identify where and for what Blockchain applications are applied or tested in developing countries, with a focus on applications that can benefit people with low economic levels.

The following example Blockchain can be used in various sectors:

1. Financial services

The fast-moving sector is financial technology or application of financial services. A lot of financial technology that stands to proliferate. BitPesa is a Blockchain-based payment system headquartered in Kenya. The company is aiming at targets for business people to easily make payments to employees, distributors, and suppliers.

Besides, Banque uses Blockchain technology in Indonesia to offer banking services to refugees, displaced people, and poor people. Ukash, a company based in Canada, gives Blockchain and traditional banking services through cloud-based software that can be customized in India. Users can pay bills, check cash, send money transfers, trade Bitcoin, or authorize transactions.

2. Remittance

Remittance or remittance that continues to grow, CASHAA is a Blockchain-based financial service that helps complete mobile cash transfers at no charge. Cash senders can choose the amount to be transferred in their currency and the amount to be received in the recipient's currency. CASHAA beta is currently prepared to accommodate the British pound, Indian rupees, Nigerian naira, and Indonesian rupiah. To carry out transfers, CASHAA uses more than 12,300 registered merchants, who buy and sell Bitcoin to help cash transactions.

3. Peer-to-peer trading in energy sources

Another fast-growing sector is peer-to-peer energy source trading, which offers opportunities for low-income people to access energy sources and trade them. Startups Azuri Technologies Solar, Off-grid Electric, and Mobisol produce inexpensive solar panel solutions for off-grid areas in rural Africa. In Bangladesh, SOLshare offers Blockchain-based "swarm electrification" services to enable solar producers to sell solar electricity to their neighboring countries. If users need power, they only need to download bash, the country's largest mobile banking network, give credit to their cellular wallets, change their SOLBOX to "purchase mode," and trade credit to get access, for those who want to sell electricity.

Australian Power Ledger also uses Blockchain technology that allows individuals to produce the latest energy (i.e., photovoltaic roof arrays) to sell surplus electricity to their neighboring countries. With a peer-to-peer trading system, electricity users can save their finances, and property owners maximize the value of their energy investment.

4. Supply chain

The agricultural supply chain is another sector where Blockchain has great potential. Bext360 utilizes Blockchain technology to manage payments at automated kiosks that evaluate products, negotiate prices, and can make digital money transfers. The company makes direct digital or mobile payments to all stakeholders in the supply chain, including farmers, communities, banks, and other parties. Their system tracks goods to the hands of consumers, allowing customers to interact directly with suppliers. Their first engine will be tested in California and then launched in the Democratic Republic of the Congo and Columbia.

Provenance, using Blockchain to verify the origin of food. Birthplace is making a system that focuses on the ASIA tuna supply chain, one of which is to ensure a slavery-free workforce. In the area of ​​land certification, there is the BenBen Blockchain, which allows people to search, manage, and verify property and land documents such as location plans and mortgages. BenBen has two programs running in Accra, Ghana, and plans to expand to Nigeria, Mozambique, and Colombia. Bitland hopes to make digital land registration universal, transparent, unchanging, and bridge the gap between government and undocumented regions. The company currently operates the system in 28 communities in Kumasi, Ghana. It aims to expand it in the African region to train communities in Blockchain technology, land rights, and corruption reduction in the land sector.

5. Identity

Emergency Response Refugees Bitnation focuses on the identity and financial problems of displaced people in the European refugee crisis. By registering with Blockchain emergency IDs, refugees can have permanent and non-government affiliated IDs that are verified through their relationships with friends and family. Bitnation also provides access to Bitcoin debit cards, where donors can fund new refugee bank accounts, which give humanitarian assistance rights to those who need them.

Then there's IDBox, which can register digital identities without electricity, the internet, or smartphones. IDBox can be used in humanitarian emergencies, remote populations, and can ensure cash transfers reach the desired beneficiaries. Abt Associates is working with the Central Bank of Papua New Guinea and founder of IDBox, Julien Bouteloupe, to run trials on its use in Papua New Guinea.

6. Tracking

Startup Tech works with governments and NGOs to improve the flow and transparency of financial services to underserved people. They have completed a Blockchain pilot in Lebanon, giving digital cash vouchers to Syrian refugees to enable them to buy food and other much-needed supplies. Another startup is Disburse, which aims to reduce problems of mismanagement or misuse of funds that move from donors to recipients. Disburse launches three pilot programs that manage funds with their Blockchain solution in school payments in Swaziland, a deforestation initiative in Uganda, and a solar energy project in the Philippines.

7. Fundraising

The fundraising phenomenon is driven by the synergistic convergence of Blockchain technology, savvy entrepreneurs, and secret analysts who support the idea of Blockchain fueled. They raise funds by creating their own crypto, such as cryptocurrency. Startups can now place their projects under a non-profit foundation and raise money. Not only making money, but also significant capital growth.

With the sale of tokens and coins that generate millions of dollars, several financial technology companies and individuals are exploring how the sale of tokens can create social change. Idealists see that the movement is about creating a society, creating social networks or markets that also provide opportunities for benefactors to get involved. This is a new, global, Blockchain-powered, and innovative way of business that can change the world for the better.

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