In case you don’t know yet what the Blockchain is and how does it work, you can read my previous article of the topic here…
So, the question of the day is how Blochain technology could save the world?
Well, there is several answers to that question!
First, the blochain is a great concept in matter of security and trust because it’s a decentralized, distributed and a public ledger.
Ok, but in the real life, what does that mean?
Let’s see some examples to understand how Blockchains could save the world!
A new trusted cadastral system with the blockchain technology
Who want to be a landlord/landlady in country that does not have a trustful and secure cadastral system?
For example, in Ghana, 90% of rural African land is not registered in an official database. But Ghana is not the only one in this situation.
This situation has many consequences. The lack of trust is minimize the investment to develop agricultural economy. But also, people don’t have any postal address. This is a major situation that limit the web economy.
Moreover, the absence of ownership title prevent people to buy their lands and homes. You can’t and you don’t want to get a loan from you bank if you are not sure to keep your property title.
The Bitland Project is a blockchain system who secure land registration. The project is recognized by the Ghanaian state and they work with all political parties to make sure the project will not be impacted in the event of a government change.
According to their words, their greatest ambition “would be to help ensure that Ghana and Africa develop their land through transparent registers. The goal is to create a system that can reduce human corruption in land conflicts. Citizens need a system that prevents their government from taking advantage of them unfairly. The project could bring wealth to entire communities, not just the hands of a few.” Blockchain France
Some others projects are launched around the world like the blockchain land titling project in Georgia. The Republic of Georgia’s National Agency of Public Registry, the Peruvian economist Hernando De Soto and Bitcoin Company BitFury announced their partnership during 2017 spring.
The snowball effect sets in slowly for the better around the world.
Secure access to real medicines
“Interpol announced on Monday, September 25, a record seizure of 25 million counterfeit and banned drugs worldwide, and distributed over the Internet, for more than $ 51 million (43 million).” Liberation
A booming market that is more profitable than heroin. Even if some countries like China have strengthened the penalties, it remains a big problem for people who need medicine all around the world and specifically in developing countries.
A blockchain project with a public and distributed ledger could change the situation and guarantee an access to safe medication for everybody. I hope it is a priority project for the World Health Organization.
Furthermore, medical data management will be really improve in the future with the blockchain technology.
For example, in the US, MedRec is a blockchain prototype trying to improve security and acces to medical records.
The goal is “to give patients and their providers one-stop access to their entire medical history across all providers they have ever seen.” Forbes
Others projects on the topic are launched like Medicalchain.
Fight against fraud in the luxury market
“$45 Billion is the annual lost to fraud insurance and $2 billion is the annual cost of jewellery fraud to insurers.” Everledger
This is why Leanne Kemp launched Everledger in April 2015.
« Everledger is a global startup that uses the best of emerging technology including blockchain, smart contracts and machine vision to assist in the reduction of risk and fraud for banks, insurers and open marketplaces.” Everledger
Since 2015, Everledger has cryptographically secure over 1 million diamonds.
The idea is to build an inescapable network for every diamond around the world. If the origin of the diamond can’t be proven, his value will be highly reduced.
How works the registration of each diamond?
Everledger lists 40 properties (size, color, purity, carat weight, place of extraction, etc.). They use those data to create a unique serial number. This serial number is then engraved microscopically on the stone, and added to the blockchain. All this data and the serial number are encrypted and replicated on each node of the Everledger network. This is a protection against any attack that would corrupt the register.
With a public, decentralized and distributed ledger, no government and no organization can modify or interfere in the network.
This is a big project to promote the benefits of the blockchain technology. As a matter of fact, the blood diamonds situation represents an import part of the non-State armed groups in Africa.
Miners at work in Sierra Leone. Source
Reducing their incomes from the diamond business should reduce their counter-power and stabilize the political landscape in Africa.
At the end, Blockchain is just a new technology, a new system. It’s not good or bad. This is what we do with it, as citizens of the world, that matters.
So, Let’s do some great things together !
Thank you for reading. I hope it help you to discover the great perspectives of the blockchain technology.
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Always be clappin’