Distribution of international aid is rarely an efficient process; rather, it is often more commonly known for its bureaucratic red tape, mismanagement and corruption. However, world food aid took a drastic leap forward with cryptocurrency-based vouchers in late May, in Jordan’s Azraq camp, currently sheltering 36,000 Syrian refugees. The United Nations’ World Food Program (WFP) used an Ethereum blockchain-enabled platform, called Building Blocks, to record and authenticate transactions for refugees without the interference of a third-party. This successful initiative was proof that Blockchain has a place in revolutionizing international aid.
In a nut shell, blockchain is a public, digital ledger system where transactions are “chained” together in unalterable blocks.…