The blockchain technology used in cryptocurrencies can contribute to other projects that drive sustainable development, from agricultural areas with crop insurance to vaccine supply chains. In this sense, the Ethereum Foundation is committed to helping change the lives of the most vulnerable and needy people globally by supporting various projects.
Ethereum Foundation and UNICEF
The Ethereum Foundation is helping the United Nations Children’s Organization (UNICEF) with blockchain technology, creating a fund to collect donations in cryptocurrencies. There is a belief that blockchain could revolutionize this system, increasing transparency in finances and accountability when collecting and managing resources. The idea is to use the blockchain to improve access to the neediest children’s basic needs, rights, and resources. It is important to note that Ethereum is currently the second most relevant cryptocurrency globally (after Bitcoin); therefore, its involvement in this type of alliance and projects allows the cryptocurrency to actively and directly contribute to the social and economic development of the next generations.
Anti-corruption projects, crop insurance and vaccine supplies
In addition to the UNICEF “critical fund,” the Ethereum Foundation has created a platform that offers blockchain solutions for some governments; this platform is called OS City, which aims to increase trust and reduce corruption, making a technology deployment to change the game for the benefit of the public sector. Another project based on blockchain technology is “Crop Insurance” in Kenya, which tries to provide “insurance” for smallholder farmers’ crops. Another outstanding project is the contribution of the blockchain in the supply chain of vaccines against Covid-19 and medical supplies.
Importance of these initiatives for sustainable development
Under the auspices of the United Nations Conference on Trade and Development (UNCTAD), the Commission on Science and Technology for Development has produced a document stating that technology has great potential for many applications that could contribute to developing sustainability. Still, its innovation is focused on financial applications far from the real economy. The report mentions that emerging technologies, such as blockchain, are willing to contribute to development, provided that governments implement policies that maximize their potential benefits while mitigating harmful outcomes.
Key technology in the new paradigm
In the aforementioned report, it is observed that blockchain is a key technology in the new technological paradigm of increasing automation and integration of the physical world with the virtual one, along with artificial intelligence, robots, and gene editing, among others. For this reason, UNCTAD calls on the governments of developing countries to strengthen their innovation systems to position themselves strategically and take full advantage of this new “wave” of technological changes at the global level.
What do you think about this topic? Do you think blockchain technology can help improve people’s quality of life?
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Image by UNICEF Ecuador via Flickr.com under Creative Commons license.