Stringing blockchain technology for effective social, philanthropic impact

Stringing blockchain technology for effective social, philanthropic impact

When it comes to blockchain technology, cryptocurrencies like Bitcoin seem to dominate the headlines and occupy most of the space in public discourse, whereas blockchain itself – the cryptocurrencies’ underlying technology – often gets overlooked. 

What lies ahead for Bitcoin and many cryptocurrency projects is uncertain, while in contrast, the future of blockchain projects, outside the domain of currency, seems compelling.

Technologies like blockchain open a world of opportunity for positive social impact. Every day we are inspired by enterprises, governments, and NGOs that make this a more inclusive, fair, and sustainable world. Because when the world is a stakeholder, how you grow matters. 

Leading companies have seen this increasingly strong connection between trust and growth and are looking to advance their businesses in ways that not only meet their business goals, but also benefit people, communities, and citizens.

Have you heard of the ancient tale of the “red string”? No? Well, let me tell you. An ancient East Asian legend goes that an invisible red string of fate binds us to people we are destined to meet. It says fate connects us to people the world over we wouldn’t otherwise meet.

Today, blockchain is that red string – a virtual thread, removing anonymity throughout the global supply chain and connecting us all. This inspiring technology can root out corruption and empower more people to participate in an ethical economy.

And what’s more, the string is significantly gaining momentum in our daily life as the intertwining technology is gravitating us towards not just trust and efficiencies, but also meaningful social impact.

Let me share some real-world examples of how this technology will showcase the value impact of blockchain and crypto.

In India, for instance, the Akshay Patra Foundation through the technology intervention of Accenture has been providing mid-day meals to millions of school kids by combining blockchain with AI and IoT.

Yet another social impact case can be traced to the Philippines. Typically, poorer communities in the developing world bear the brunt of plastic pollution. A new digital payment system in the Philippines has now sparked a clean-up revolution.

An initiative by the Bounties Network, Coin. ph, and ConsenSys to incentivize individuals to clean up a polluted shoreline in exchange for digital payments. Another initiative in Bali called – The Plastic Exchange, is a sustainability movement that empowers communities to change their waste behavior through dignity-based exchange systems that result in a cleaner, healthier environments and will soon implement a community utility token, an initiative by Intercoin and the India Blockchain Alliance, to reward good social practices.