blockchain-social-impact

How Impactful can Blockchains be?

How Impactful can Blockchains be?

Technology & You

Last couple of decades have seen an interesting expand-shrink fight for the world. It has fired itself across all local and national boundaries. This has been an example of expansion at an altogether different abstract level. A meticulous look will help you realise that the world has shrunk with the help of technology which has always been advancing. Not just blockchains but the whole tech front has been an ‘exchange-counter’ of opportunities and a while new world of immense possibilities. The blockchains don’t need a proof saying that it has the potential to create an everlasting impact. Both, the techie and the common man have been on a happy receiving side of this wonderful phenomenon.

Like any other, even the concept of blockchains welcomes entrepreneurs with huge endeavours in various scenarios that affect that are directly related to a common man of the society. Read along to scale the depth of this wonderful technology and know how it will reach your lives.

Great initiative by the United Nations Organisation

Blockchain for social impact (BSIC) is an evidence of belief of the United Nations Organisation in blockchains (here, Ethereum). The top authority has had a vision to channelize the worth of Ethereum blockchains and use them for public welfare. This is an initiative led by ConsenSys. The scale of execution is apparent with the efforts of 22-membered organisation streamlining to solve social and environmental problems.

The BSIC has planned to follow a cycle of incubation, then designing and implementation of blockchain solutions all across the world. The main aim of this organisation is to restore transparency, efficiency and total accountability in numerous humanitarian organisations. It is also looking to helping them directly improve the life of individuals under their aid. 

For the Ones Unaccounted

BSIC is anticipated to have plans for the welfare of vulnerable populations. It has a roadmap which leads to record identities of each and every individual who is a part of that population, under crisis. Certainly, the Ethereum blockchains can help BSIC account the information related to this population in an immaculate manner. The organisation can set up local nodes in geographical areas where certain data set is created. 

For A Smarter Tomorrow

The energy and environment side of BSIC work ground divides itself in two parts. One of them is accounting and total documentation of energy and environment parameters of different places under study. The other is the commercial side of something as potential as energy and the business concepts which arise due to certain environmental problems.

Supply Chain Management (SCM)

BSIC has realised the paramount importance of supply chain and its effective management as the materials, information, finances and, of course, goods and services play an important role in the commerce of a region or a company. Supply chain management (SCM) can be felicitated by blockchain as this can host a unified process. 

Spanning the Workforce in An Economy

Financial inclusion is one of the greatest challenges faced by development of any country. BSIC has tried to address this critical problem by maintaining dynamically updated data set some appropriate databases of people who are under financial inclusion and more importantly the ones who are not under the same. 

Heads-On with A Problems

Whether it be work, money or managerial tasks, blockchains look to address everything. any country, blockchains can be directly implemented for maintaining an agreement on the status of work, money and the total documentation of projects. It can also handle initiatives in public welfare. Certain blockchains are capable of connecting different subsidiaries of the public institutions which can keep them connected at all times without the hassle of being updated every now and then. Elimination of miscommunication and redundancy of data surely leaves no scope for corruption and data/factual misrepresentation at any stage. No unofficial or unauthorized info can be hidden from balance sheets, figures of reports as well as the overall documentation which exists, related to their work.

Blockchains can’t address a problem as great as corruption.

Payments are no worries

Blockchains also unlock some extraordinary chances of trade and business all across the earth. The restriction that remittances and feasibility of work pose are seemingly becoming a substantial challenge for the global citizens of the global world. But now, blockchains can empower people to indulge in business and trade anywhere across the world. They can simply do this by locating or relocating a new/existing node of the respective blockchain. Blockchains can felicitate easy remittances of considerations made while striking a deal business and other aspects of commerce.

One-time investment. Cost cutting forever.

There is a great impact that social sector has indirectly felt while dealing with the service sector. The influential existence of blockchain helps services and products cut costs with a better feasibility. A meticulous look at this chain reaction involving the finance sector, then the social sector (all empowered by the technology of blockchain) will help you understand that any business entity within the social sector or the businesses can work directly or in tandem to have a certain impact of their own.

Proactive Philanthropism

A small part of the world population has been actively involving in the promotion of the welfare of humanity, or the so-called philanthropy. This has been trending for the last couple of decades. It has found its engine in blockchains as it empowered who are exceptionally capable of serving people in need with relief funds. The social welfare organizations that indulge in active fundraising initiatives and the subsector which involves disaster relief activities can be well equipped with the much talked about technology of today.

On a consolidating note, even the education sector stands under the influence of blockchains. Central organizations are becoming capable of introducing uniform curriculum and other education-related, interested infrastructures which can directly benefit the social sector at large.

If you have further questions on how blockchains can help? connect with us today for free consultations.

Stuti Dhruv

About The Author

My name is Stuti Dhruv & I am senior consultant at Aalpha, primarily working on pre sales, consulting with clients on latest technology trends.