When Blockchain meets social innovation
Blockchain is a hot topic now, with its decentralization, open-source, and security characteristics, people believe it could be the next trend to reshape financial systems and alter global power structures. So what could happen when blockchain meets social innovation and creates social impact?
When it comes to cryptocurrency which is associated with blockchain, it is easy to understand that people can donate those currencies directly to some charities and foundations, to make sure the purpose of the transfer. And indeed, there are already some websites that facilitate the donation of cryptocurrencies to good causes.
Moreover, in the government sector, blockchain can be used to manage records of each government service, to make sure transparency and cut corruption. Also, blockchain technology can be used to buy private services to ensure accountability and efficiency. Regarding the investment sector which is directly related to cryptocurrency, blockchain can help impact investors make use of their money, also entrepreneurs can scale their businesses by measuring the project’s impact.
Blockchain can be used in many ways to build the trust we have lost in history, as it’s in the public or private sectors. Importantly, it also helps to nourish innovations that can improve people’s lives. Looking back at our human history, maybe this technology is a key to rebuilding our society.
Edit by SOCIAL INNOVATION INSIGHT
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Originally published at http://socialinnovatorshome.com on February 2, 2022.