Limitations of Blockchain In Giving Social Impact


As technology plays a major role in today’s digital revolution, Blockchain also has a social impact and is beneficial to anyone who uses it either society or industry and increases revenue.

The presence of Blockchain also has an impact on the social issues that flourish in society, which becomes an obstacle or limitation that Blockchain must pass through penetration in various industrial sectors all over the world.

It was also mentioned by ConsenSys, the Brooklyn startup behind the Blockchain Ethereum platform, and the PeaceTech Lab at a discussion or debate at Washington D.C. Debates are being made to debate the potential of Blockchain applications to improve everything from delivering aid to refugees to supply chain transparency.

As information, ConsenSys is a global technology and entrepreneur company that builds infrastructure, an application that enables the world to be decentralized. While PeaceTech Lab is an independent organization working to reduce conflicts in the use of technology, media, and data.

In a trial conducted at Washington D.C. it is known there are obstacles or limitations Blockchain penetrate in providing social impact as quoted from ImpactAlpha following:

1.Fighting Fake News

Circulating fake news that can be easily accessed by the public on social media platforms becomes an obstacle to Blockchain.

This has prompted the birth of a sustainable, civil-based Blockchain based journalistic marketplace that works on verifiable digital watermarks to help news consumers separate real-life news from fake news and based solely on sources that are not based on reliable sources.

2. Humanitarian Aid
In addition to fighting false or false news, Blockchain also has limitations on the humanitarian field of humanitarian assistance.

The identification of personal identities digitally is considered not able to solve the problems that occur in refugees in various parts of the world. Why?

This is because many of the refugees who cross to Europe fear that their identities are identified so that the refugees are willing to burn their fingertips so they can not be identified into the system. This is an obstacle that can of course impede Blockchain’s penetration of humanitarian aid to the refugees.

3. As a Means of Tool or Purpose
Blockchain’s usefulness proposed by many Blockchain-based startups does not seem to count.

But at the hearing in Washington D.C. there is one panelist who says “Nine out of 10 businesses do not need Blockchain, they just want to start the token and get into the fundraiser.”

This illustrates how industrial or community perceptions in understanding and assessing Blockchain so that it can also be a barrier and limitations of Blockchain in providing widespread social impact.


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