Is blockchain acceptable at all from a civil rights perspective?

Is blockchain acceptable at all from a civil rights perspective
(Last Updated On: August 12, 2021)

Instances, where technology is used as a powerful tool for civil rights, are ever-evolving. Upcoming technologies such as automation, artificial intelligence, and blockchain hold the potential to make significant contributions to the protection and promotion of civil rights.

Having said so, fast development in automation, artificial intelligence, and robotics have also raised serious queries about possible adverse impacts on civil rights and the future of workers’ rights; but the blockchain is now changing the future for the better.

You must have known blockchain as the technology that supports cryptocurrencies like Bitcoin but it is much more than a financial instrument. To be precise as it is a system of agreements based on encrypted databases. It means that once the deal is finalized neither of the parties can rewrite the terms.

Smart contracts are the perfect example of how blockchain works. Smart contracts are contracts based on a blockchain that holds both of the parties responsible for the completion of the terms of the agreement, only when the bargain is fulfilled by both parties.

As a record-keeping ledger, blockchain enforces transparency, is incorruptible, and avoids censorship. Blockchain has tackled political, financial, and institutional corruption issues which have also brought massive societal changes besides protecting civil rights. Let us find out how blockchain Technology is acceptable from a civil rights perspective.

Tackling migration crisis

In 2017, over 10,000 cryptocurrency-based vouchers were sent to Syrian refugees by the UNWFP. It was led by Gavin Wood, the co-founder of Ethereum and a big blockchain data firm, to help the refugees with food using cryptocurrencies.

The Syrian crisis had posed to be the largest humanitarian crisis since 2014. Even today, the emergency continues and the countries and agencies who are invested in looking after the situation are trying to find new solutions through bitcoin security.

Bypassing international uncertainty and bureaucracy with Ethereum technology would not only make refugees directly eligible for donations but can also be a major step for resolving the international refugee crisis by involving them in campaigns.

Creating financial aids for most underprivileged people

Besides the blockchain platform being used to provide financial assistance to refugees, it is also helpful in bridging the poverty gap across the world. We already know that blockchain can behave like an institution similar to a bank, even if one does not have a bank account.

Blockchain’s decentralized nature also means that no money will be charged for money transactions the way it would have been in a typical banking institution. When you are charged for transferring money it straps the international social economic landscape because payments are costly, lowering the development opportunities for the developing nations.

Transfer of money through the bank also poses financial stress for individuals, sending money to their family and relatives overseas. Blockchain Technology is an excellent solution for overcoming this issue, besides providing financial freedom.

Blockchain Technology manages two elements of global poverty. Firstly, it makes transactions cheaper for immigrants, migrants, and refugees who need to send money to their families. Secondly, it makes business processes more convenient with countries where sending money is difficult and costly, such as Africa.

Enhancing the efficiency of the government

Blockchain Technology can accelerate the government’s capabilities in managing confidentiality, authentication, data sharing, and accountability. It can also affect functions like health care, public benefits, and education. Blockchain can be used as a solution for slow and difficult government processes which are highly prone to corruption.

Wrapping up

Both, as an industry and a technology, blockchain is still in its exploration phases although it has several proven benefits and solutions. When seen from the perspective of civil rights, it has the potential to combat financial inequality, corruption, and lack of access to information. Blockchain tech is most useful for not just setting an International standard but the preservation of civil rights.

About the author

    Whale Sumo

    Hwang is a self-proclaimed nerd who loves helping people understand complex concepts. He has a passion for crypto and online privacy and enjoys teaching others about the benefits of both. Hwang is an advocate for individual freedom and believes that knowledge is power. When he's not busy sharing his knowledge with the world, Hwang can be found running full marathons or playing video games.