If there is one area where blockchain technology seems to have not only direct relevance but also an enormous potential, it is ultimately developmental economics. Because blockchain’s purpose is to remove the middleman in transactions, in other words removing the need for institutions, it seems particularly relevant to use blockchain in developing countries where institutions might not always be trustworthy and efficient. Blockchain furthermore provides the possibility of using alternative cryptocurrencies instead of national currencies, which can be especially beneficial in countries where inflation hits extreme levels. Blockchain technology also offers new opportunities for financial and insurance services, which is particularly appropriate in countries where the level of unfunded and uninsured individuals is very high. Finally, blockchain potentially offers much more secure and cost-effective ways of making donations, sending funds for foreign aid and making cross-border transfers. Here are 5 ways we think blockchain can boost economic development and alleviate poverty.
Today, Siemens and industrial AI-firm, SparkCognition, announced a new cybersecurity solution for industrial control system (ICS) endpoints.DeepArmor Industrial, fortified by Siemens, leverages artificial intelligence (AI) to...
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