THE ROLE OF

BLOCKCHAIN

IN EMERGING

MARKETSby Ping Jiang

 The American economy is built

on a trusted, central authority to

regulate and insure personal

finances, like the FDIC and the

Federal Reserve.

BACKGROUND

However, nations without reliable

governmental institutions need

something as well, to protect

consumers from corruption and

other issues.

Blockchain technologies are a

great option.

CHALLENGE

WHAT IS

BLOCKCHAIN?

BLOCKCHAIN

Is a long, ever-growing line of blocks (records of transactions), which is constantly updated by millions of semi-autonomous nodes every time money changes hands or a block is altered. 

WHAT IS

BITCOIN?

BITCOIN

Is an example of blockchain technology. Its biggest selling point is that it does not rely on a single organization (like a bank or the Federal Reserve) signing off on a currency trade.

IS THERE A NEED

FOR BLOCKCHAIN

IN  EMERGING

MARKETS?

BLOCKCHAIN-BASED

TECHNOLOGIES Are perfect for emerging market because they safeguard users from corrupt moneylenders or national banks. This is especially relevant for money remittances. In Africa nearly $41 billion was remitted in 2015–and remitters lost a whopping 12% in fees for every $200 sent.  Blockchain can help alleviate these losses by cutting out middlemen and services that dominate the market.

CAN BLOCKCHAIN

TECHNOLOGY FILL

IN THE GAP?

BLOCKCHAIN

STARTUPS CAN Put an end these problems, allowing immigrants and their families to hold onto their cash, and freeing them from the grip of a wasteful, corrupt system. By expanding into emerging markets, Blockchain tech can sidestep weak, haphazard regulation, and instead allow users to take control of their financial destiny.

HOW IS

BLOCKCHAIN

USED OUTSIDE OF

FINANCE?

BLOCKCHAIN

APPLICATIONS Are responsible for the Internet of Things (IOT), which is basically connecting things (from smartphones to jet engines) to both the internet and each other for increased efficiency.  For instance, the navigation system of a container ship transporting raw materials to a port could automatically notify harbor control of its arrival, so that the proper cranes and staff are on hand to facilitate transfers.

FOR MORE

INFORMATION

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