The cost of bringing the Blockchain Technology to developing countries

By Wirba Brice Divine Ransinyuy. ransinyuybricedivine@yahoo.com

Editor Notes: Title is slightly updated

The creation and the existence of such a technology like the Blockchain technology is actually good news for the entire world in general and for developing countries in particular. It is a technology that developing countries really need as they are being plagued by all sorts crisis, starting from political crisis to social crisis. This is just to name the least because it goes and extents itself to economic and geo-political set ups.

The use and reinforcement of their systems with the Blockchain technology can be such benefitting and profiting to these developing countries, be it countries situated in South America or the ones found in Africa since these are areas or zones that bear much of the current world’s crisis. With the introduction in their system, it will help very considerably as these developing countries always suffer from election fraud, money laundering, high levels of corruption and poverty, low standards of living and most oftenly no or low levels of employment.

The Blockchain technology can be very effective and of use to the developing countries in areas notably in election control. The Blockchain Technology can be used in election control during voting times. Using the Blockchain technology during voting times will eventually and consequently and potentially cancel as eliminate the existence of fraud during election times as with the use of such a technology, citizens will be encourage and self-motivated to go and vote. The Blockchain technology was first used and confirmed during the American presidential midterm elections in Virginia during the month of November 2018. During the election, each and every vote will be kept as a block on the Blockchain making it difficult to change and falsify. With this in sight, there will be a lot of transparency during the electoral process, bringing the number of personnel and officials conducting the election to actually a lower number with instant results. The use of the Blockchain technology in such affairs and domains in developing countries will be added factor to their step towards becoming a developed country as to achieve development, the country needs to rely on strong, honest and dedicated leaders who are transparent in all their dealings.

Still, the Blockchain technology can be of great use for developing countries in that, it can be used in supply chain. This will permit to record the whereabouts and origins of products and materials that have been purchased. This furthermore enable companies and enterprises to verify the authenticity of the goods alongside other issues like health and ethics labels such as whether it is organic, label and Fair Trade.

The Blockchain technology is and interesting asset for any country that wants to grow higher in all its aspects as the Blockchain technology does not limit itself only to developing countries, but to developed countries also.