Blockchain and United Nations Sustainable Development Goals
The adoption of blockchain technology is changing our world. There is a visible impact of this technology in diverse sectors and industries of the world’s economy. For instance, blockchain technology has made huge contributions in the finance, retail, automobile, health care, supply chain, travel, and hospitality sector, to mention a few. Interestingly, big companies and multinationals like Visa, Intel, American Express, Nestle, Ford, and others across different industries are gradually embracing the Blockchain.
It is also exciting to know that blockchain technology has made some huge contributions to achieving the United Nations Sustainable Development Goals(SDGs), particularly in agriculture, food security, and public service. That is the focus of the article.
A Brief Background
Blockchain is the innovative technology behind seamless, transparent, peer- to-peer financial and data transactions. The technology has an open and decentralized database that allows users to upload information usually documented on the block. The information stored on the block cannot be reversed, tampered with, or hacked by a third party.
Sustainable Development Goals (SDGs) are 17 global objectives set up by the U.N in 2015, with a target to achieve them by 2030. The focus is on topical world issues ranging from health care, education, agriculture, food security, and public service, amongst other issues. However, this post focuses only on agriculture, food security, and public service.
Contributions to Agriculture and Food Security
It is well established that eating proper and healthy food is beneficial for public health. However, there is a lot of contaminated food in our markets which is dangerous to health if consumed. Ensuring the safety of food would mean that there is a need for transparency on the condition and quality of food in the supply chain. Blockchain technology is a useful tool in this area, as it helps to drive transparency and food integrity. A buyer could, for example, spot food containers through their unique identities on the Blockchain. So, if the food is not fit for consumption, sensors integrated with the containers notify the processors to either replace the food or discard it.
Furthermore, blockchain technology can help organize information on the quality and condition of plant seeds and monitor crop growth. The origin and route of the crops can also be monitored by buyers when they use the public information platform. For instance, Grain Discovery, an online blockchain marketplace in Canada, provides data and gives buyers and sellers in the food system an opportunity to grow and market globally competitive crops.
Another issue the Blockchain helps to tackle in the agricultural sector is food wastage. The technology improves transparency and traceability of food, ensuring an adequate supply of food to those who need it. Regarding food security, there are other benefits, like relatively low transaction costs and spontaneous data sharing that the Blockchain offers. Interestingly, the technology is also useful for sharing on-farm data, which supports the development of data-driven technologies regarding smart farming.
Contributions to Public Servic
It is interesting to know that governments worldwide are fast embracing newer technologies. Blockchain-based solutions are making government operations effective and efficient, which increases trust in the public sector.
In addition, governments worldwide can reduce administrative costs, increase transparency and improve service delivery with the adoption of Blockchain. In a recent report, the market size of Blockchain in the government sector is estimated at $153.9 million in 2021, and it is expected to hit $18.15 billion by 2030.
Globally, there has been an increase in data hacks and stolen identities. The public sector is one of the primary targets. Blockchain application development offers solutions to some of the problems including immutability and security of information. The system behind the technology is secure and convenient, making data storage and management easier. Citizens can also engage in personal verifications on public issues, in a way that preserves privacy of the participants.
Blockchain technology serves different purposes and use cases, which include systems to develop and manage smart city applications such as energy management and transportation for citizens. In the case of Dubai, the government uses Blockchain to store and manage citizens’ health records. On the other hand, the government in Illinois uses it to streamline the process of issuing birth certificates.
Blockchain ensures a more efficient and effective banking system than traditional banking systems. Implementing the technology gives room for accountability, transparency, and real-time payments. In turn, corruption and fraud are reduced in the public sector. It is exciting to see that Hong Kong and Shanghai Banking Corporation(HSBC), Wells Fargo, and some other banks utilize the Blockchain for international payments.
Conclusion
Blockchain can be applied to a lot of different use cases and it is also fascinating to know that the process of validating qualifications, which is often time-consuming and expensive, could be seamless with the Blockchain. Employers can now easily verify the qualifications of applicants seeking jobs, thereby eliminating the complex and tedious traditional process. The government in Malta is a classic example of how governments worldwide can use technology to store and manage students’ academic certificates.
Furthermore, adopting the technology aids the swift process of the ever-slow and cumbersome government procurement system. By eliminating third parties and intermediaries, a shared, immutable, and tamper-proof record of all transactions is achieved. Indeed, blockchain technology has come to stay. Its contributions are far-reaching, and it sure has a place at the moment and in the future.
