Practical Insights on Blockchain

blockchain international development

International donors can use blockchain and distributed ledger technology to improve development outcomes and the effectiveness of development aid in several ways:

  • Increased transparency and accountability: Blockchain technology offers a secure and transparent way of tracking the flow of funds from the donor to the recipient. This can increase accountability and reduce the risk of fraud and corruption in the development sector.
  • Improved supply chain management: Blockchain technology can be used to improve supply chain management in the development sector. This can help to ensure that aid reaches its intended recipient and that goods and services are delivered as expected.
  • More efficient payment systems: Blockchain technology can be used to create more efficient payment systems, reducing the time and cost associated with traditional banking systems. This can make it easier for international donors to send funds to the countries and organizations that need them.
  • Better data management: Blockchain technology can be used to improve data management in the development sector. This can make it easier to track the impact of development projects and to make data-driven decisions about where to allocate resources.
  • Increased financial inclusion: Blockchain technology can be used to increase financial inclusion by providing access to financial services for people who are currently excluded from the traditional banking system. This can help to reduce poverty and improve the standard of living for people in developing countries.

Careful consideration of the specific challenges and needs of each development project is important to determine whether distributed ledger technology is the best solution, and how it can be used most effectively.

What Impact Will Facebook Libra Blockchain Have on International Development?

What Impact Will Facebook Libra Blockchain Have on International Development?

Published on: Aug 29 2019 by Tech Change - 1 Comment
Libra is a digital currency proposed by Facebook and intended to be managed by the Libra Association, a membership organization with 27 payment, technology, and...
ICT4D Hype Cycle for 2019: AI, Blockchain, Chatbots, Data, And…

ICT4D Hype Cycle for 2019: AI, Blockchain, Chatbots, Data, And…

Published on: Aug 15 2019 by Wayan Vota - 4 Comments
Back in 2014, we posted our first Development Hype Cycle to showcase how technologies move from initial invention to widespread application. We followed it up with...
10 Blockchain Implementation Risks in International Development

10 Blockchain Implementation Risks in International Development

Published on: Feb 27 2019 by Wayan Vota - 1 Comment
One of the most discussed technologies today is distributed ledger technology, a decentralized system for recording transactions with mechanisms for processing,...
Blockchain Use Case Failure: 43 Projects and Zero Impact Found

Blockchain Use Case Failure: 43 Projects and Zero Impact Found

Published on: Dec 10 2018 by Wayan Vota - 9 Comments
Blockchain and other distributed ledger technology offers the potential for radical transparency in data collection, management, and use across international development....
Apply Now to Break Into Blockchain for International Development

Apply Now to Break Into Blockchain for International Development

Published on: Aug 09 2018 by Tech Change - Comments Off on Apply Now to Break Into Blockchain for International Development
Blockchain technology may have the potential to help us tackle existing development challenges and prepare governments for changes that are underway. While this...
Four Lessons Learned Launching Blockchain Financial Services for NGOs

Four Lessons Learned Launching Blockchain Financial Services for NGOs

Published on: Jun 25 2018 by Guest Writer - 8 Comments
Much has been written about blockchain technology, but much of it is impenetrable to outsiders. Aid organisations are therefore dependent on the honesty and clarity...
Look Who Is Riding the Blockchain Hype Train

Look Who Is Riding the Blockchain Hype Train

Published on: May 31 2018 by Guest Writer - 14 Comments
A blockchain is basically a special kind of database. They are inherently inefficient compared to a traditional database, but that is viewed as a sacrifice to gain...
5 Reasons to Join Us at SwitchPoint 2018

5 Reasons to Join Us at SwitchPoint 2018

Published on: Apr 04 2018 by Wayan Vota - Comments Off on 5 Reasons to Join Us at SwitchPoint 2018
Please register now to join your peers and colleagues at SwitchPoint 2018, where humanitarian innovation, global health & technology collide on April 26-27,...
3 Ways to Move From Hype to Practice in Digital Development

3 Ways to Move From Hype to Practice in Digital Development

Published on: Mar 15 2018 by Guest Writer - Comments Off on 3 Ways to Move From Hype to Practice in Digital Development
  I’m Nora Lindström, and as Global Coordinator for Digital Development for Plan International, I’m tasked with staying current on all things digital,...
Five Examples of United Nations Agencies Using Blockchain Technology

Five Examples of United Nations Agencies Using Blockchain Technology

Published on: Mar 08 2018 by Wayan Vota - 10 Comments
Blockchain technologies have the potential to help the international community reduce transaction costs, lower the risk of fraud, control financial risks and protect...