Blockchain - The Future of Humanitarian Aid

leoumesh (67)in #blockchain • 6 years ago

Blockchain technology has been advancing far more from the financial sector. Inspite of using blockchain as a store of value and medium of exchange, it has the potential to transform every other industries including health care, digital identity management, charity organization, energy supply and many more. The blockchain technology is an amazing discovery by an anonymous person Satoshi Nakamoto to be used in bitcoin cryptocurrency. Due to the decentralized nature of blockchain and cryptocurrency, it has been easier to identify fraud, faster transaction times and no control of government, increased financial efficiency.

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Due to ongoing war in Syria, many people including children are forced to leave their home and abandon their country. Blockchain technology is helping Syrian refugees camps located at Zaatari Refugee camp and Azraq Refugee Camp in Jordan. The technology was employed by UN World Food Programme (WFP) in May 2017 in Jordan. Refugees shop at supermarkets without physical money. To pay they look into the camera. And the iris scanner connects to their World Food Programme accounts. It's also hoped that blockchain could help refugees to find work. As it can store a person's digital identity without the need for paperwork like passports, exam certificates, financial histories which are often destroyed during conflict or seized by hostile governments.

The WFP has been paying aid directly to refugees. But the payments cost millions of dollars in bank transaction fees. Blockchain cut the fees by 98%. With blockchain there is no need for a bank account or cash. Funds can be debited directly from the World Food Programme. Such application of blockchain is a revolutionary innovation and has potential to be the future of humanitarian aid and humanity. Blockchain has an amazing and exciting future.

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ExsulCoin is an amazing invention in the cryptocurrency that employs the ideas of Artificial Intelligence and Blockchain to solve the problems of ongoing Syrian refugees crisis. Suppose you want to give money to charities. The charity organization only give certain percentage like 10% to the victims and they utilize the rest of the donation for overhead costs and for their use. But with Exsulcoin, 100% of your donation can be transferred directly to specific person in need. ExsulCoin uses peer-to-peer (P2P) platform to directly match refugees with donors or supporters.

Not only with Syrian Refugees, ExsulCoin, Ethereum-based cryptocurrency, is expected to help 65.6 million refugees in the world to empower them and to help them stand on their own feet. One months before, this coin plans on giving educational resources even to the areas without access to internet infrastructures. When students have completed the course, they can earn cryptocurrency from this and can get jobs for their needs.