Seven Blockchain Initiatives That Might Change The Worldbr>
Today, a number of revolutionary technologies are poised to change the world, but none have the same potential as blockchain. This distributed public ledger is virtually impenetrable to cyber threats. Its decentralized nature renders it impossible for third parties to tamper with, making it an ideal solution for global issues such as corruption, transparency, data manipulation, and online security.
Listed below are seven initiatives leveraging blockchain technology to make the world a better place.
Provenance is a blockchain-powered platform designed to increase transparency in business. Now more than ever, people are empowered to know more about what they are consuming, whether products are really what these brands say they are. However, the only way to verify that is through the brand itself, from their website or social media accounts. Consumers mostly just have to hope that these businesses are telling the truth. With Provenance, it will be a whole different story.
Brands can increase transparency and build trust using Provenance. Businesses can share the processes behind their products, who makes them and where they’re made. Not to mention, brands can use it to share their social and environmental impact.
SolarCoin is a blockchain-based cryptocurrency for producers of solar energy. They give one token (SLR) per megawatt-hour of solar energy. Their goal is to increase the global solar electricity production, and they’re hoping that their incentives will encourage more people to generate solar power. SolarCoin hopes to reduce the cost of the production of electricity. In turn, it should also reduce a solar installation’s payback time. SolarCoin hopes to someday see the world transform from a fossil-fuel economy into a solar-powered one.
The Plastic Bank supports recycling ecosystems through blockchain technology. They stop plastic from entering the oceans by turning them into currency. By exchanging plastic for money, communities are empowered to dispose of their waste through the right recycling channels. Not only does this help save the environment, it also creates valuable opportunities for low-income communities.
This blockchain initiative gives the poor access to income, services, and goods while they stop plastic from further polluting the ocean.
Blockchain technology enables Dentacoin to set up a network of dental professionals and patients through the developed software tools. Both parties are incentivized with the same-named cryptocurrency to maintain prevention-oriented care.
Patients can carry out a 3-month incentivized challenge through their Dentacare mobile app, that helps them establish oral hygiene habits. Patients who leave trusted reviews and participate in market surveys on the other Dentacoin tools are also rewarded with the Dentacoin cryptocurrency. The currency is already used as an official means of payment at 71 dental clinics, laboratories, shops within the global Dentacoin network.
BitHope is Europe’s first bitcoin crowdfunding platform for the NGO sector. They give local charities a voice. They help them promote their campaigns on a global scale. This Bulgarian non-profit organization only uses cryptocurrency to fund campaigns hosted on their platform. They then convert the Bitcoins into tangible goods for people in need, animal welfare, or the environment.
With BitHope, anyone can find a cause they care about and help fund it using digital currency. They can also keep track of the funds and determine if they made a difference.
Giveth reshapes charitable giving by providing a free and open-source platform where non-profit organizations can easily establish transparency and accountability. All donations are stored on the Ethereum blockchain, enabling donors to check who gets their donations and why. When they don’t like how the funds are spent, they have the opportunity to cancel.
Poseidon is a blockchain-based platform designed to help stop climate change. It tracks the carbon footprint of a consumer’s purchases, and it automatically transfers an offset charge to initiatives that protect our environment such as forest conservation projects. Poseidon hopes to make it easier for people to check their carbon score.
Remember that blockchain is relatively new, so there are endless possibilities for innovation. There’s so much to discover and experiment on. Change won’t happen overnight, but it is going to happen. It is happening. These blockchain initiatives are already making the world a little bit better by creating opportunities, empowering local communities, and saving the environment.