Blockchain for social impact (BSIC) is an innovative initiative by the United Nations Organisation with a vision to harness the potential of the Ethereum blockchain and deploy them for the well public welfare. This is an initiative led by ConsenSys, and the 22-members organization, is looking to solve social and environmental problems by first incubating, then designing, and further leading into the development and implementation of blockchain solutions all across the world. The organization is committed to developing and restoring transparency, efficiency, and total accountability in numerous humanitarian organizations and thus helping them directly improve the lives of individuals under their aid. Read along to know their workforce and explore the critical targets set by BSIC.

Identity & Vulnerable Populations

BSIC is anticipated to have plans for the welfare of Diwali tribal populations and a strong identity for each and every individual who is a part of that population under crisis. Certainly, the Ethereum blockchain can help BSIC account for the information related to this population in an immaculate manner. The organization can set up local notes in geography kill areas where certain data set is created and further grown by documenting each and every required information about the unidentified people making up for those vulnerable populations. The data can be compiled for the complete blockchain and stored in our data cloud for further data visualization and analysis. This can help BSIC to make valuable inferences about those people and populations which can be the foundation piece of information while chalking out public welfare initiatives and schemes.

Also, read – Blockchain is great, but: What are the limitations?

Energy & Environment

The energy and environment side of BSIC where the ground has subparts. The one is the accounting and total documentation of energy and environment parameters in different places under study. The other is the commerce side of something as potent as energy and the business concepts which arise due to certain environmental problems. The block change can be set up for both, the energy and environment parameters can be computed and well compiled different notes of luck change for helping out people solving certain problems which affect the masses. The business side of the environment and energy aspect can be empowered by blockchain as it gives them a convenient way of carrying out transactions, databases, and even smart contracts in public welfare as endorsed by numerous humanitarian organizations.

Supply Chain

BSIC has realized the paramount importance of the supply chain, and its effective management as The materials, information, finances, and of course, the goods and services play an important role in the commerce of a region or a company. Supply chain management can be felicitated by blockchain as this can host a process that leads certain goods and services from the supplier to the manufacturer. Further, the same is carried forward to the wholesaler, and then to the retailer who becomes an interface between the product and the consumer.

Our @RobHenning58 kicks off the Ethical & Transparent #SupplyChains panel discussion at @BSIC Conference today with a poll: How many people have actually deployed a @Blockchain solution for supply chain mgmt? @ethereum4impact pic.twitter.com/1OHcsutwlh

— Chemonics (@Chemonics) November 17, 2017

Financial Inclusion

Financial inclusion is one of the greatest challenges faced by the development of any country. BSIC has tried to address this critical problem by maintaining dynamically updated data sets and some appropriate databases of people who are under financial inclusion and more importantly the ones who are not under the same. Blockchain can be set up with numerous notes that record and compile data sets of people from different areas, and the same databases can also undergo transactions based on the changes. Transactions can be of both, intra and inter-note as the Ethereum blockchain lends dynamicity to the scenario.