Philanthropy: A missing catalyst of blockchain adoption
The possible synergies between blockchain technology and philanthropy is best illustrated in The Bottom Billion, a book written by Oxford University professor Paul Collier exploring the reasons why impoverished countries fail to progress despite international aid and support. Although there are several “development traps” explored by Collier that these countries can fall victim to, two in particular can be disrupted using blockchain technology: bad governance and the natural resource trap.
Additionally, using blockchain technology protocols as a store of value could bring economic stability to these types of countries that often face massive inflation, bank runs and strict currency controls. Related: The future of philanthropy lies in blockchain technology Tying in with corruption and governance issues is the natural resource trap.
