It is widely believed that blockchain technology can help solve many problems of developing countries. Let’s see few examples in order to confirm this point of view:
Denmark uses cryptocurrency to help developing countries
Denmark is planning to use a cryptocurrency to provide humanitarian assistance, such instance of a donor state using blockchain technology for humanitarian efforts. To this end, a report was developed by the Danish Ministry of Foreign Affairs, Sustainia Analytical Center and Coinify (Europe’s largest cryptocurrency platform) to examine how blockchain technology can solve problems that arise when providing assistance to developing countries. Specifically, the report identified how blockchain technology can provide fast and safe money transfers as well as which cryptocurrencies (or perhaps a completely new one) would be best-suited for humanitarian assistance.
Coinify creates methods for using cryptocurrency payments when working with off-grid sources of renewable electricity
Blockchain technology continues to evolve, and it will take some time for it to begin to be trusted. However, some specific projects for its use have already appeared. So, Coinify creates methods for using cryptocurrency payments when working with off-grid sources of renewable electricity. For example, you can transfer funds directly to the owner of a solar panel located in an African village.
Donation to the needs of specific projects
Another option is an online center where people will donate to the needs of specific projects, for example, to build schools, railways and bridges. The use of smart contracts ensures that money is invested in the selected project, and not wasted. If the recipient collects funds, for example, for construction, he will be able to spend them only on cement and bricks, but not on the purchase of bananas.
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