As humans keep developing new technologies, the overall quality of life improves too. However, history tells us that many technological innovations have done more harm than good. So concerns about technology violating civil rights are very justified. Especially innovations that can disrupt a well-established market has been a serious concern for civil rights.
Technological innovations such as automation, Blockchain, and artificial intelligence have sociologists worried. Unlike automation and artificial intelligence, many believe that Blockchain helps promote and protect civil rights. Beyond cryptocurrencies, many aspects of the blockchain system can help us visualize the future of civil rights.
Blockchain can end fraudulent transactions happening online and prevent unsuspecting citizens from getting robbed. Blockchain stores all the terms based on an agreement in an encrypted database. So, there is no scope for a business to rewrite or change the terms and conditions that can harm any consumer.
If we take this concept further, we can have Smart Contracts based on the blockchain system. Smart Contracts have the terms and conditions of a transaction programmed into the blocks. As soon as the parties meet them, it initiates the trade automatically. These are very helpful in holding a particular institute responsible for a specific action.
Blockchain can also work as a record-keeping ledger. The advantage of using this technology is transparency, incorruptibility and avoidance of censorship. Many political, social and financial institutes are known for meddling with data to harm the civil rights of specific groups. To tackle that, Blockchain is emerging as an advocate for civil rights protection.
An end to the migration crisis
Gavin Wood, who co-founded Ethereum, a prominent blockchain data management company, made history in 2017 by helping the Syrian refugees. They sent over 10,000 token vouchers based on cryptocurrency to help them buy food and water. As we all know, the Syrian refugee crisis is one of the most severe and urgent humanitarian crises that started in 2014.
By taking this step in 2017, Ethereum showed the world two ways by which Blockchain can help resolve the migration crisis. Firstly, this showed the countries that want to support the refugees that there is more than one way to help them. Secondly, they successfully bypassed the bureaucrats and politicians to make the refugees eligible for receiving donations directly. This is undoubtedly a massive step towards solving a global civil rights issue with the help of the blockchain system.
Aiding The Poorest and The Underprivileged
The financial gap between the ultra-rich and the underprivileged people have increased dramatically in the last five years. While governments are struggling to force the institutions to maintain specific regulations to help the disadvantaged, many blockchain-based entrepreneurs have come forward to help resolve this problem.
We have seen how Blockchain can help the migrating population. Similarly, it can also help the underprivileged because it can work as a bank of the new era where the money stays with the user. The decentralized nature of the Blockchain system helps reduce the cost of transactions. Above all, there are no charges involved for keeping the money in one place. To know more about the functions of cryptocurrency, head to the cfd trader
Transferring money overseas or receiving it as financial aid is a hassle for the general public, even those with a bank account. However, through a Blockchain-based currency system sending or receiving funding from overseas is as simple as it can be. Undoubtedly, Blockchain is taking the world to a place where we can see a unified global economy.
From data management to reassuring liabilities, there are many ways in which Blockchain can help the government solve civil rights problems. Blockchain-based technologies promise to solve several crises worldwide and take our financial sector towards a new era where every user will receive equal treatment. It will help increase transparency and end corruption.