Blockchain at a crossroads: From Davos hype to global impact
The evolution of blockchain continues at pace. It’s time to examine progress, challenges and future potential in humanitarian and development sectors.
Opinion by: Advit Nath, founder and CEO at BlueBridge Global
The snow-capped peaks of Davos in 2023 witnessed blockchain technology being heralded as a transformative force for global good. Two years later, the landscape is radically different, yet familiar challenges linger. While crypto markets soar, regulatory frameworks mature, and innovation thrives, a critical question remains — has blockchain truly lived up to its potential to drive social impact, or does the industry continue circling promises without achieving scalable progress?
Promising developments in blockchain’s role across the humanitarian and development sectors since 2023 reveal progress. In Rwanda’s eastern region, where challenging soil and weather conditions limit agricultural output, smallholder farmers now benefit from accessible tractor rentals through blockchain-enabled platforms. The Hello Tractor application leverages blockchain and low-cost devices to transparently track equipment usage, payments and maintenance, thus boosting agricultural productivity and improving incomes for hundreds of thousands of farmers.
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Author: Advit Nat
