Blockchain Technology Could Help Streamline International Aid Distribution
Fast Company: How Blockchain Could Transform The Way International Aid Is Distributed
“…The technology behind cryptocurrencies such as bitcoin and ethereum, blockchain is essentially a shared digital ledger system: a decentralized database that allows information to be exchanged among several parties but not altered. Transactions become blocks of data that are chained together, making everything transparent and easy to review. … [O]ne of its most profound uses, say advocates, may be in international aid, where documentation is scarce and operating budgets are low. By eliminating intermediaries, blockchain technology creates faster, safer, and, ultimately, cheaper ways of doing business…” (Paynter, 9/18).