GE Reports | By: Nir Kshetri | GPE – July 25, 2017:
No need for a bank: Just a smartphone and a blockchain. Here are four real examples, compiled by Nir Kshetri, a professor of management at The University of North Carolina-Greensboro, that show how blockchain could help boost the world’s most economically disadvantaged.
Originally published Jul 11, 2017: Big Wall Street companies are using a complicated technology called blockchain to further increase the already lightning-fast speed of international finance. But it’s not just the upper crust of high finance who can benefit from this new technology.
Most simply, a blockchain is an inexpensive and transparent way to record transactions. People who don’t know each other – and therefore may not trust each other – can securely exchange money without fear of fraud or theft. Major aid agencies, nonprofits and startup companies are working to extend blockchain systems across the developing world to help poor people around the world get easier access to banks for loans or to protect their savings.
To read full article – please click here.
