The blockchain, gentrification & social-contracts

The blockchain may be the perfect method for social contracts within poverty programs. This even happens in the Netherlands with a core example in the municipally of Zuidhoorn in the province Groningen. The blockchain is not just the technology that allows cryptocurrencies to work it also allows social-contracts between businesses and government or private institutions. The regressive left meanwhile argues that especially young libertarians are using the blockchain to disrupt the way of life. But does the blockchain only enable young urban professionals or do the poorest people in developed countries benefit as well? We will look at the example of Zuidhorn.

The Poverty Program on the blockchain

A single scan of a QR code within an app is enough. To get supplies and goods at one of the 12 stores in Zuidhorn for the people living below the poverty line. Every time such a scan takes place, an anonymous request is sent to a blockchain database that immediately checks whether all conditions are met: does it still have sufficient credit? Is the store right? Under an agreement, 'ethers' (cryptocurrencies) are transferred from the municipal cash to the retailer, a transaction that is converted directly into euros via a special bank.

'I used to have trouble with municipal coupons, now the money is in my account within a day', says a bicycle mechanic who has sold three children's bicycles to poor villagers since the introduction of the new system.

Meanwhile, blockchain is widely adopted by those who want to limit government most levels of government has experimented with the same technology. And most still have pilots running. This technology can change a lot for the better including the system of retirement.