So the United Nations is utilizing the Ethereum Blockchain to transfer vouchers to refugees in Syria for their World Food Programme.
Around 10,000 people were able to receive a transfer of cryptocurrency vouchers
This was done through a platform set up by Parity Technologies - a startup led by the co-founder of Etherum, Gain Wood.
This is great news for Blockchain technology. The UN is planning to engage in more related projects to aid distressed countries at a faster rate.
"Funds that were sent to the refugees were specifically used for buying food. With the success of this project, the World Food Programme (WFP) plans to extend the project even further to cover 100,000 people in Jordan by late 2018."
This video goes through the different projects undergoing with the United Nations . Its fascinating to see how it is launched.
Beneficiaries of the project were assigned random on-time passwords that displayed on their mobile devices. which were then shown to supermarket proprietors who helped disperse both the funds and food.
They cut out any middleman as, instead of paying the funds directly to the recipients, the UN sends the money to the shops, cutting out both banks and even the actual recipients.
The Expansion of the Blockchain Technology
This shows the potential that Blockchain technology has to impact the entire world. Sectors such as the Healthcare Industry, Energy Sector, and, most notably, Governments will most notably be affected. Based on a Report by Oracle .
I can't wait to see the growth of Blockchain Worldwide
