How blockchain will change the world
According to recent EU budget publications relating to the EU pilot project, Horizontal Task Force on Distributed Ledger Technology, lawmakers are considering just such a proposal" “One specific use case that ought to be explored is the potential of [distributed ledger tech] based solutions for the management of the situation of refugees. Many refugees, and people in refugee-like situations, are unable to prove their identity or access essential services.”Ostensibly, such an initiative would help refugees to gain a formal ID, which in turn would be of benefit when opening a bank account, accessing healthcare and seeking legal representation.The news follows reports earlier this year that the United Nations is using Ethereum to provide funds to refugees from the Syrian War. Since then, it is believed that 7 UN groups are exploring how blockchain could solve problems relating to identity and micropayments.Indeed, the Finnish government has already gone one better. In conjunction with a company called MONI, Helsinki is providing prepaid Mastercard debit cards to refugees who do not have bank accounts. Each card contains a unique identifier stored on the blockchain, which means there is no need for a third party required for identity verification purposes. The card also functions as a bank account by having the ability to receive direct deposits from users’ employers; and the account’s private keys can only be accessed by the cardholder, which thus allows identification to be easily and securely carried out. With blockchain storing all transactions made by each cardholder, therefore, local immigration services can also easily monitor cardholders and expenditures.
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