The World Food Program estimates that 821 million people, or roughly 1 in 9 people worldwide, go to bed hungry. In addition, according to the UN Food and Agriculture Organization, over 14% of the world’s food is lost before it reaches the retail level due to on-farm operations, storage issues, and transportation issues.
So, while there are almost a billion people who are hungry, there are also mountains of perfectly good food that is wasted or spoiled. We also have a straightforward, readily available technology that may be used by innovators to create a link between these two poles. Blockchain technology facilitates USDT wallet transactions.
Global cooperation of organisations, governments, and frequently displaced and dispersed individuals that are challenging to track and contact are all necessary to combat hunger.
Fortunately, governments and aid agencies are considering a number of projects that make use of blockchain technology to tackle these issues. Here is how the blockchain is delivering assistance to those in need.
Many of those who are hungry are refugees who have been uprooted because of a political uprising or environmental problems. As a result, they are transient, challenging to locate and contact, and might or might not have official identification.
The crypto wallet system is productive, expandable, and safe. Additionally, research has demonstrated that cash food transfers are far more effective and efficient at reducing hunger than in-kind food assistance.
The test system may also be implemented considerably more quickly because it is cash-based. It is much simpler to electronically transfer cash to hundreds of thousands of adults, children, and the elderly than it is to organise the collecting and distribution of tonnes of food, some of which is perishable.
Blockchain has the potential to completely transform how WFP provides aid to needy people around the world. It can enable us to reply much more quickly and help us get to know people we serve better.
Long-standing corruption has made it more difficult to feed people who are starving. Some estimates have the damage resulting from corruption as high as 30%.
Because a blockchain database is transparent and unchangeable, a government that allocates $10 million for food aid to refugees in a particular region of the world may actually track its money all the way to the intended beneficiaries.
In order to maintain their privacy and guarantee that only those with permission receive assistance, the receivers’ identifying characteristics can also be concealed.
Contrary to traditional money, the lack of anonymity and strict traceability make corruption more challenging.
Unlike traditional payment methods like cash and coins, the use of cryptocurrency, a digital currency that uses cryptography to maintain the security of transactions, as a medium of payment for a project enables the identification of each user.
With no home, no money, and little to no support system, some of the most vulnerable people in the world might benefit greatly from blockchain.
We might be able to achieve the UN’s target of eradicating world hunger by 2030 if we can enable lower transaction cost, individual privacy, less corruption, and quick reaction.
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