{"id":18730,"date":"2019-08-06T10:30:03","date_gmt":"2019-08-06T10:30:03","guid":{"rendered":"https:\/\/www.englishforums.com\/news\/?p=18730"},"modified":"2019-08-06T10:30:03","modified_gmt":"2019-08-06T10:30:03","slug":"blockchain-helps-africa-meet-unesco-goals","status":"publish","type":"post","link":"https:\/\/www.englishforward.com\/news\/blockchain-helps-africa-meet-unesco-goals\/","title":{"rendered":"Blockchain helps Africa meet UNESCO goals"},"content":{"rendered":"

Blockchain helps the <\/b>African continent face tough challenges in meeting UNESCO<\/b><\/a> goals, with obstacles ranging from lack of access to current educational materials to the absence of high-quality teachers.<\/b>
\nEvery day in communities, people grow tomatoes, have their hair done and buy bread. <\/span>When national currencies are in scarce supply, the exchange of these goods and services slow down because there is no medium of exchange, other than barter.<\/b>
\nPublic spending on education has been growing in Africa at a similar percentage to the USA spending, but these challenges cannot be overcome simply <\/span>by building more institutions or hiring additional teachers.\u00a0<\/span><\/a>
\nThe current pattern of sending aid funds into a zone without the implementation of sustainable local and community empowerment and buy-in, can cause other problems and exacerbate regional conflict instead of achieving real, lasting solutions for the local population.<\/span>
\nAlternative <\/b>blockchain community currencies<\/b><\/a> that create closed-loop systems and promote the local economy are vital to achieve sustainable growth and keep children in school.<\/b>
\nAid funds could be sent directly to an individual’s blockchain wallet, allowing them to transact with other community members and other communities, stimulating the local economy with funds that now have to be spent on local goods and services (one being education).<\/span>
\nIn the current system. the aid resources received are often spent outside of the community and local economy is not stimulated.<\/b><\/p>\n

Blockchain as a tool to fight poverty<\/b><\/h3>\n

A solution to improving education and the local economy with sustainable community-driven initiatives could be achieved by creating an <\/span>education blockchain tokenomic system<\/span><\/a>, such as the one proposed by English Forward.<\/span>
\nCompanies such as <\/b>Grassroots Economics<\/b><\/a> run by Will Ruddick, Bancor\u2019s Director of Community Currencies, have successfully implemented and run community currencies for many years.<\/b>
\n\u201cThanks to Bancor, blockchain is finally becoming a tool we can use to fight poverty.<\/span>
\nYesterday we had an amazing day in Mombasa<\/span> field-testing the Bancor Wallet on the <\/b>POA Network<\/b><\/a> to enable zero-transaction fees and fast payments for local transactions<\/b>. As tomatoes and chapati changed hands, local shop owners and their customers marked the first-ever community currency transactions on the blockchain.\u201d – Will Ruddick<\/span><\/p>\n

What is a closed-loop economy?<\/b><\/h3>\n

It is criminal to think that<\/b> whole communities are impoverished<\/b><\/a>, people are starving and children don\u2019t go to school, not because there is a lack of innovation, skills or ideas, but because there are no viable means of exchange to facilitate these economic transactions.<\/b>
\nHere is an example of a closed-loop economy using a blockchain community currency.<\/span>
\nThe following transactions all use a local blockchain currency than works alongside the national currency.<\/span><\/p>\n