The impact of blockchain technology on emerging economies

Blockchain technology will have a profound impact on the developing world in these four areas: asset transfer (via cryptographic currencies), land title registration, digital identity, and anti-corruption. Through these applications emerging economies will begin to raise their standard of living and provide developed world institutions with a dramatically expanded customer base. A win/win.

In 2013, I was exposed to blockchain technology for the first time through my analysis of cryptographic currencies for a major asset management firm. From 2015-2016, I led an initiative within Latin America introducing identity verification methods utilizing blockchain technology. In April 2017, after 19 years of full-time employment within the “traditional” financial services community, I decided to dedicate all of my time to the application of blockchain technology in the nonprofit community that maintained operations in the developing world. I genuinely believe that this technology will have a profound impact on the economies of low and middle-income nations, eventually closing the global wealth gap.