What does the blockchain technology and digital currency mean for the poor developing countries?

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by Wirba Brice Divine Ransinyuy

It not a secret to some people that the blockchain technology and digital currencies have changed the financial world and keeps on changing the financial world. It shows clearly that it has no limits to what it could do in the financial world. As the changes brought by the blockchain technology is taking place, it is also creating fresh and amazing opportunities that are often new, thereby generating social impacts, and not only economic impacts. Such impacts are most visible in the energy sector. This has brought and keeps of bringing fundamental aspects in the social sector as a result of the blockchain technology. During the month of June 2017, the renowned Accelerator Frankfurt came up with start-ups and academics in order to discuss, facilitating the learning of the blockchain technology as it is an exciting technology of great use today.

Still in Frankfurt, under the supervision and control of Professor Doctor Philip Sandner who works at the Frankfurt School Blockchain Center instigated the creation of a think tank and also of a research center in order to fully study how the blockchain technology impacts companies and business models in poor and developing countries, not limiting the research to the overwhelming developed countries as it is always the case in terms of financial researches.

Going further, many companies and businesses have fully adopted the usage of the blockchain technology and as such instigating developing countries to follow in that footstep. Luis Bezzenberger from the Brainbot Technologies came up with a list of countries companies, businesses, organizations that are working on various applications especially the blockchain technologies. This research and work is often done and carried out by Start-ups that are trying to reinforce their system. Since developing countries especially African countries are relying on various start-ups to boost their country’s economy, they turn out to the blockchain technology in order to do it so well as the blockchain technology fits in all the fields of research and workplace.

The force of the blockchain technology is really so enormous. If well exploited and used, the blockchain technology can possibly change many things in the world as well as in the energy sector. This is most visible in cars, as in a theoretical manner, with the usage of the blockchain technology in view, the car can pay for the packing ticket by itself same as the blockchain technology is used in international transfers cancelling all fears of money getting missing or misplaced. Though, it may seem impossible, actually with technology in sight, everything is possible especially with the blockchain technology as it manifest itself in all the fields of life.

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