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How the First-Ever Blockchain Platform Aims to Connect the World's Poor to the Global Economy

With around 2 billion financially excluded people around the world and 232 million undocumented migrants internationally – a large part of which does not have a formal identification document at the new place of residence – a secure and scalable tech-power solution is required to help such a large group build a resilience to hardships. While those people are largely overlooked by international corporations across industries (and especially by the formal financial system), talented entrepreneurs are investing efforts to bring the efficiency, connectivity and security of blockchain technology to shed light on the parts of the world’s population living in the shade of national and international systems.

One of the ways the technology is put to aid is through blockchain-powered economic digital identity. Among the benefits of blockchain-based identity, professionals emphasized its efficiency of reissuance of identity documents and data in case the documents are lost or stolen, enhanced privacy with the possibility to selectively reveal private identity informatio ...

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