Harnessing the promise of blockchain to change lives
The technology that runs cryptocurrencies such as bitcoin could be used in many applications that contribute to sustainable development, from crop insurance to vaccine supply chains.
Aya Miyaguchi, executive director of the Ethereum Foundation, is committed to using blockchain to change people’s lives.
Her foundation has helped the UN children’s agency (UNICEF) use the frontier technology to create a fund to raise donations of cryptocurrencies, such as bitcoin, for its work.
She believes blockchain could revolutionize development work by increasing financial transparency and accountability and by generating important savings in time and fees.
“Together with UNICEF, we're harnessing the promise of blockchain to improve access to basic needs, rights, and resources,” she said. “Our ecosystem has taken the lead in many areas and we continue to focus on where we’re needed the most.”
In simple terms, blockchain creates a decentralized and secure digital ledger of all transactions across a peer-to-peer network. It’s the technology that underlies cryptocurrency and its application is expanding widely in our increasingly digitalized world.
Ms. Miyaguchi’s team has developed the second-most valuable blockchain network – Ethereum. Its native cryptocurrency, ether, is the second-largest digital coin behind bitcoin.