Technology can help us build a better, adequate and worthy lives in the world, this is what the recent news tell us.
United Nation’s World Food Programme (WFP) is using the Ethereum blockchain to securely and transparently distribute cash assistance to the hungry, a techy way of combating worldwide problem.
The WFP’s pilot program, Building Blocks, is demonstrating how blockchain can empower humanitarian organizations to quickly and safely send aid to undeveloped nations.
For quite long time, blockchain is making headlines everywhere — from the trading markets to even the arena of universal basic income.
The UN food arm capitalizes this super secure, decentralized digital network in feeding the world.
In a project using the Ethereum blockchain, the World Food Programme (WFP) is changing its approach to feeding the hungry. Instead of just giving food, the WFP has opened up a cash assistance program Building Blocks.
“Blockchain can revolutionize the way WFP delivers assistance to vulnerable families across the globe. It can bring us closer to the people we serve and allow us to respond much faster,” said Farman Ali, from the WFP Karachi provincial office in a WFP press release.
The project was first tested in Pakistan in January, 2017. Now, with the lessons of this first foray into Ethereum blockchain, which is a global blockchain network that many businesses utilize, the WFP is getting ready to implement a full-scale program.
The WFP’s move to adapt Ethereum was part of an effort that explored better, cheaper, and less risky means to deliver cash-based transfers. It had to be secure and fast at the same time.
Money experts sees Blockchain, being the decentralized digital ledger that it is, seemed to be the most viable option. It also offers a level of transparency, coupled with cryptography-based security, that makes it ideal for monitoring transactions.
This transparency and security eliminated the fear of potential misappropriation of funding or tampering with transactions.
According to reports, WFP’s launching of Building Block’s first stage, vulnerable families in Pakistan were able to receive food and cash assistance that WFP personnel were able to authenticate and record with a smartphone using the Ethereum blockchain.
The WFP was immediately able to track and verify the way families used these funds.
Blockchain has the potential to revolutionize humanitarian assistance, especially in some of the world’s most undeveloped environments.
Extremely, when disaster strikes areas where people do not have access to financial infrastructures, humanitarian organizations could utilize blockchain as a way of disseminating cash assistance.
According to Alexi Lane, CEO of Ethereum-based application Everex Wallet, noted in an interview that this method of sending aid will also help disater relief efforts insure transparency.
“Ethereum can provide cost efficient and transparent solutions to replace bank accounts and to serve the un(der)banked population,” Lane said.
Aside from hunger elimination, Blockchain has been also an instrument in food security. In fact, last week Jack Ma’s Alibaba used this in fighting fake food in China.
Simultaneously, IBM launches blockchain as new service for its clientele.
Blockchain has proven the world to realize there’s a lot of way in offering our people of various services courtesy of technology.