According to Merriam-Webster’s dictionary, a utopia is defined as, “a place of ideal perfection especially in laws, government, and social condition.” Leaders throughout history have strived to create their own version of an ideal world, long before the word “utopia” even existed.
What a perfect world might look like, varies greatly depending on the individual. However, the advent of new technology offers unique opportunities to alter the world around us, in ways that weren’t previously possible.
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Moving the Chain is an ongoing series from Blockchain WTF that shines a spotlight on folks who are making an impact in the world of blockchain technology and cryptocurrency.
There are many who see blockchains and cryptocurrency as simply a way to make a quick buck. However, futurist, shelter builder, and blockchain enthusiast, Vinay Gupta, sees these new technologies as a way to make our world a better place for the entire human race. Gupta is best known for creating the hexayurt, which is relatively inexpensive, easy to build, housing structure. If mass produced, the hexayurt could potentially end homelessness on Earth.
Gupta is also a captivating speaker who shares his Utopian vision of how blockchain technology can help create a global democracy on the Internet, with those who attend his lectures. Moreover, he also believes that cryptocurrency, along with the hexayurt, could serve as catalysts to empower those in refugee camps and perhaps even, one day, end global poverty.
Vinay Gupta’s humanitarian vision serves as a powerful reminder of how blockchain technology was the potential to reshape the world we live.
UN Uses Blockchain for Humanitarian Aid
Despite the fact that the world produces enough food to feed the entire population, millions of people still go hungry. Because of the way food is currently distributed, “food rich” areas–or those with an abundance of food–exist, while other places experience severe famine and starvation. The United Nations (UN) is looking to address this extreme inequality, by implementing the use of blockchain.
Blockchain technology has the potential to create a whole new, reliable, secure environment for providing humanitarian aid. Non-profits often advertise themselves as such. However, a significant portion of donations still go to overhead, office costs, and officers running these charities. With blockchain technology, those who donate are able to view exactly how their funds spent, and who directly is benefiting from the provided aid.
European Union And Blockchain – The Big Impact
The European Union (EU) is just one of many governmentally-related organizations to be interested in blockchain technology. Unlike other countries who are currently adopting it via the acceptance of Bitcoin, as a cybersecurity boost, or as a leader in the technology. (See Canada’s blockchain undertakings here!) There are many other examples of governments undertaking blockchain as a viable technology. European Union and blockchain technology are about to be a well-known around the world.
So, because the European Union is comprised of a number of member states, studies and policies affect a larger population of people. Much like the United States, the EU requires compliance and cooperation by everyone involved in the blockchain project. A committee at the organization has realized the potential of what blockchain can truly do. As we know, the technology has the ability to impact everything from the way financial institutions do business, to assisting in humanitarian efforts, and boosts efforts towards ending issues regarding cyber security.
Digital Governance & Blockchain Technology
Digital governance is the act of establishing set roles, rules, and regulations within the digital space. So, it basically means setting up the rules of online activities. In this particular case, it’s the implementation of agreed-upon rules within blockchain technology.
A blockchain is fundamentally created without a single entity controlling the system. In order to complete any given task a decentralized network relies on a number of computers. Because of this, people more-or-less can run rogue. The accountability that exists within the community is the glue that strengthens the inherent benefit of the technology. (For more in-depth information, read our What the FAQ? Guide!)