Blockchain: Unpacking the Disruptive Potential of Blockchain Technology for Human Development
This white paper explores the potential blockchain technology could have in fostering human development in developing countries. The first part provides a non-technical overview of blockchain. It then moves to illustrate the range of applications in development areas and sectors from a public/private goods perspective. The paper examines the following five areas where private goods and services provision is lagging, and finds that remittances and digital money are the most promising of these areas.
- Banking for the unbanked.
- Remittances (a.k.a. Rebittances).
- Agriculture.
- Food security.
- Intellectual property rights.
The third section examines the actual relevance of blockchains in developing countries. The paper concludes with a series of recommendations for additional research and potential development programming using blockchain technologies. The annexes lay out the information and communications technology for development (ICTD) framework and a more technical presentation of blockchain technologies.
