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Jakarta Post

Blockchain path to more inclusive world

  • Emir Hrnjic and Nikodem Tomczak

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PREMIUM
Jakarta   /   Fri, October 4, 2019   /  01:08 pm
Blockchain path to more inclusive world Some 2 billion people in the world are unbanked and lack access to useful and affordable financial services. According to the World Bank, this is one of the major barriers to reducing extreme poverty and social inequality. (JP/Budhi Button)

Some 2 billion people in the world are unbanked and lack access to useful and affordable financial services. According to the World Bank, this is one of the major barriers to reducing extreme poverty and social inequality. Yet, of these 2 billion, approximately two-thirds have access to a mobile phone with internet connection. This enables access to emerging blockchain technologies, offering in turn some unique and promising solutions to create a more equal and inclusive world. Blockchain is an open and decentralized technology that enables electronic transfer of value without intermediaries. By design it is transparent, inclusive and censorship resistant. Because it is decentralized, it empowers individuals, institutions and governments to build democratic technological solutions that are resilient and less prone to manipulation. As a result the technology has the potential to ...

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