Southeast Asia is home to some of the world’s fastest growing economies, but with it comes widening economic inequality. The poor suffer while also having to endure hardships brought on by improper governance. As Southeast Asian economies continue their rapid pace of growth, the worsening inequality threatens to incite social unrest.
However, a peaceful economic revolution could level the playing field among the critically divided social stratas, taking power from oligarchal conglomerates and returning it to those they exploited.
Throughout history, revolutions have been marked by violence or military intervention, which can lead to the erosion of human rights. Other times, anti-corruption efforts are often led by the corrupt themselves, bearing little fruit. But perhaps with new technology, corruption can be tackled for a peaceful and longer-lasting revolution.
Blockchain can offer better solutions to tackling high crime rates and other inadequacies that plague society. In the Philippines, Budget Secretary Benjamin Diokno announced plans to use blockchain technology to upgrade the government’s procurement process.
While blockchain cannot address all problems of governance, it can help reduce corruption and foster trust in administrations. The technology has been employed to solve international crimes, such as child trafficking, through the World Identity Network in collaboration with the UN Office for Project Services and UN Office of Information and Communications. The UN also encouraged the adoption of blockchain in refugee camps to tackle food and supply pilfering.
The world faces an ever-growing battle between the rich and poor, necessitating greater efforts to close developmental and economic gaps. Blockchain solutions can provide a secure, effective, and empowering platform to fight inequality. Revolutions mostly end in scorched earth, where those fighting for justice suffer when the oppressor leaves because there was no real replacement for a fundamentally broken system. However, blockchain may hold the key to building a better system, and indeed a better future.
About Asia Blockchain Review
Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.
Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.
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