Blockchain: The Golden Ticket for Developing Nations | Daniyal Bilal | TEDxUniversityofStAndrews | Summary and Q&A

TL;DR

Blockchain technology, beyond cryptocurrencies, has the potential to eradicate middlemen, support disaster relief efforts, ensure transparent elections, empower the unbanked, and combat inflation in developing nations.

Key Insights

• 📼 Blockchain technology has the potential to revolutionize various industries beyond cryptocurrencies, enabling direct ownership and transmission of assets.
• 🦻 In the context of disaster relief, blockchain's transparency and direct aid capabilities can address issues of corruption and logistics.
• 👣 By tracking the supply chain, blockchain can improve accountability and efficiency in distributing relief supplies.
• ❓ Transparent and secure election systems can be established using blockchain technology, preventing manipulation and ensuring democratic processes.
• 🌍 The unbanked population, particularly in Africa, can benefit from cryptocurrencies and blockchain technology to engage in digital transactions and overcome financial exclusion.
• 🍉 Inflation-stricken countries can utilize cryptocurrencies like Bitcoin as a short-term solution to stabilize their economies and rebuild their foundations.
• 🤽 Blockchain technology empowers individuals, provides stability, creates equality, and levels the playing field for developing nations.

Transcript

[Applause] thank you Perfect all right it works um hi everyone all right let's get started blockchain block sorry guys blockchain has taken the people over a roller coaster of emotions over the past few years people saw it as an opportunity to become overnight millionaires to the next day cussing out cryptocurrencies and all of them all of a sudden... Read More

Questions & Answers

Q: How does blockchain eliminate the need for middlemen in finance and social media?

Blockchain technology allows for direct ownership and transmission of assets, removing the control exerted by banks and tech giants. This prevents situations like reckless use of funds or arbitrary shutdowns of social media profiles.

Q: How can blockchain aid disaster relief efforts?

Blockchain enables direct aid through cryptocurrencies to displaced individuals, bypassing the need for traditional banking systems. This ensures that the money sent reaches the intended recipients and reduces corruption risks.

Q: How can blockchain improve supply chain systems for relief supplies?

By tracking every step of the supply chain on a decentralized ledger, blockchain holds every party involved accountable and improves transparency. This helps identify and address any loss or inefficiency in the supply chain.

Q: How can blockchain transform election systems?

The use of blockchain in election systems ensures that votes are securely registered, added up, and transmitted without any interference. This makes it extremely difficult to manipulate or rig the election process.

Summary & Key Takeaways

• Blockchain technology eliminates the need for middlemen in various industries, such as finance and social media, returning power and control to the people who own the assets.

• In the context of disaster relief, blockchain can help address issues of corruption and logistics by enabling direct aid to the displaced through cryptocurrencies.

• The use of blockchain in supply chain systems can track relief supplies, hold accountable those responsible for losses, and ensure efficient distribution.

• Blockchain can transform election systems by preventing tampering and ensuring transparent voting processes.

• The technology has the potential to support the unbanked population by enabling digital transactions through smartphones and internet access.

• Inflation-stricken countries, such as those in Africa, can benefit from cryptocurrencies like Bitcoin to stabilize their economies and facilitate rebuilding efforts.