logologologologo
  • Forex News
  • Forex Guides
  • Crypto News
  • Crypto Guides
  • Our Services
    • Travel Money
    • Forex Trading
    • Money Transfers
  • Contribute

5 Uses for Cryptocurrency and Blockchain Technology You Hadn’t Considered

Published by Forex News Shop Staff Forex News Shop Staff at July 11, 2018
cryptocurrency and blockchain uses

Cryptocurrencies and blockchain have grabbed the headlines recently purely for the average person to make unthinkable money from doing nothing. Now, this has proved to be, at some points depending on your ability to buy and sell correctly to be true. There is an alternative to the technology other than simply making money. Outside of finance, there are a host of ways to change the world (genuinely) using cryptocurrency and some of them may surprise you as much as they excite you.

Overcoming electoral fraud

blockchain tech to prevent election frauds

Most times we talk about Crypto we think in terms of Europe, developed Asian world and in fully developed, sophisticated societies but cryptocurrency can tackle the biggest issues in developing countries. Several startups are using blockchain technology to allow voting to be conducted by an app and could be further developed to erase corruption involving money.

“The blockchain is incorruptible; no one can modify or subvert how the votes are stored, and that’s vital for democracy,” said the co-founder of Democracy Earth, Santiago Siri.

Reducing corruption in the charity sector

Following closely on from that in the same vein is reducing non-profit corruption. The blockchain keeps companies and institutions accountable. The application would be to monitor payments at all stages, across all jurisdictions to avoid fund leaks.  It gives the ability to be purely transparent in business practices and therefore helps uphold basic human rights. The World Food Programme (WFP) is already using it to distribute money to assist starving people in traditionally corrupt African countries.

The environment

If you are a green environmentalist you will be pleasantly surprised that modern-day technology can help keep the planet green too. For example, a project with people who have solar panels is able to use a phone app to sell environmental credits to those without power to reduce carbon use and emission and more clean energy transfer. Encouraging payment of clean energy sources using cryptocurrency across the board could really encourage more use.

International travel

using blockchain for international travel

As cryptocurrency becomes globalised more companies will be forced to give the consumer the option to pay in digital form. This has been the case in Kenya for many reasons with a partnership with Vodaphone. Cheapair.com is a travel agency which has been accepting bitcoin as payment since 2013 and that’s before you’ve even left your home for the airport. More retailers will be accepting more coins via phones and iPads in the not so distant future giving savings, security and safety in the process.

Digital publishing and advertising

In a bid to evolve and constantly be relevant to the consumer, agencies are developing methods of becoming more efficient. To try and improve irrelevant banner ads next to online content, a new model of pay-per-advert is being used whereby advertisers can pay for prime, electronic real estate next to a relevant, targeted article and at the same time gaining exposure to the correct demographic.

This technology uses a form of cryptocurrency to fuel engagement; both publishers and audience members can earn “engagement tokens” by commenting and publishing original content and advertisers will purchase these tokens to select their ad placements among relevant articles. At the same time, feedback and trackability of these campaigns are key. Track engagement and the viral spread of information, which gets online advertisers the information they need to know in order to see what works and what doesn’t.

Share
Forex News Shop Staff
Forex News Shop Staff
We cover foreign exchange, currency and cryptocurrency news and guides. Our readers can find currency-specific foreign exchange news, political updates affecting currency and insight into where foreign exchange trends may go, as well as the latest cryptocurrency analyses and trends.

Related posts

Bitcoin coins and trading chart scene (3D Illustration)

Photo: Open Studio / Adobe Stock

September 29, 2019

How to Earn More Bitcoin Using One Powerful Chart


Read more
Why is it a challenge to deposit cryptocurrency gains to a Bank

Image credit: robert / Adobe Stock

January 28, 2019

Why Is It a Challenge to Deposit Cryptocurrency Gains to a Bank?


Read more
shopping trolley filled with shiny bitcoins by the computer displaying market chart

Image credit: Myst / Adobe Stock

January 15, 2019

A Short Guide: How to Start a Crypto Hedge Fund


Read more

Latest News

  • smartphone with Facebook and Libra logo on the screen. Facebook is largest and most popular social networking site in the world. Moscow, Russia - June 28, 20190
    How Facebook’s Libra Could Affect Forex and Crypto Markets
    November 28, 2019
  • American dollars an Usa Flag.Close up of american flag and dollar cash money on old oak wood.0
    Dollar Weakens as Possibility of Trade Deal This Year Looks Unlikely
    November 28, 2019
  • canadian money in a pocket of a blue jeans0
    Canadian Dollar Falls Further as Job Numbers Tumble
    November 11, 2019
  • Composite image of stocks and shares0
    NFP Numbers Surpass Target but Manufacturing Stumbles as ISM PMI Falls
    November 4, 2019
  • House of Parliament and British flag0
    Pound Stagnant as Parliament Are Faced with Parliamentary Election
    October 30, 2019

Market Overview

ForexSignals.com sidebar blog widget

Topics

  • Foreign exchange news
  • Foreign exchange guides
  • Cryptocurrency guides
  • Cryptocurrency news

Our Services

  • Travel money deals
  • Forex trading platforms
  • International money transfers

Support

  • About
  • Contact
  • Advertise
  • Write for us
  • Privacy policy
  • Terms & conditions
  • Cookie policy
© 2018 Forex News Shop All Rights Reserved