SOURCE: Click here to read the full original post

We are all just beginning to wake up to the incredible possibilities that the blockchain holds for the future. Free from the weighted financial infrastructure that can often act as a barrier to progress in many parts of the world, blockchain technology has the potential to change all of this – by decentralising access to information and data.

These are just five of the ways that blockchain is helping to change the developing world:

Land Disputes

Legal documentation is often lacking in many countries in the developing world – this often leads to land disputes when it isn’t clear who owns the land. Blockchain can help solve this by storing an up-to-date version of each transaction or record. Cybersecurity company – WISeKey­­­ is already using the blockchain for land registry in Rwanda, where land grabbing is an on-going problem.

Proof of Identity

Not having valid photo identification can present a significant barrier to millions of people around the world – it prevents individuals from accessing banking services, microfinance, and healthcare.

Blockchain powered economic identity systems such as BanQu are already beginning to be used in many African countries, where a significant proportion of the population remains unbanked.

Accessible Banking

Over 2 billion adults in the world remain unbanked – due to lack of access to banks, or lack of verifiable ID.  A solution to this is mobile money – over 100 million people in Africa use mobile money. However, with many different mobile money systems, compatibility between systems can cause a problem, especially when transferring funds between countries and currencies.

A blockchain based network called ‘Stellar’ facilitates cross-asset transfers of value. This has opened up free money transfer to many developing parts of the world including the Philippines, India and Africa.

Crowdfunding for Global Start- ups

The crowdfunding industry is predicted to surpass $1 trillion in the next decade, but unfortunately it is not as accessible as it may appear. Major crowdfunding platforms like Kickstarter cut out most of the developing world and

SourceCoin Spectator - click here to read the rest of this article