Can the Blockchain decentralization end overall poverty Plus What does poverty mean to you?
Poverty means different things to everyone. Every human some way somehow suffers one thing or the other. For some, it is a kind of deprivation from something which they have the natural right to have, some also believe it is the 9–5 slavery job they are trapped in yet still unable to feed the family; to some, a destruction of nature like the forests, land, animals and others, a creation of the rich to build a wall of affluence around them and so on. if you take a sample out of a defined population and ask this simple question of what poverty means to them, everyone is likely to give different viewpoints and most certainly answers might not be the same. This is because answers will be based on where the shoe pinches all.
What then is Poverty?
The United Nations (1995) categorized it into absolute and overall poverty.
For simplicity, absolute poverty is when basic needs like food, clothing and shelter cannot be fulfilled while overall poverty encompasses basic things like lack of income, hunger and shelter and other broader things such as ill health, limited access to education, racial discrimination, misfit in social and cultural life, lack of support for love and blur hope for the future.
If you ask someone with means, he will tell you that the most important thing in the world is love, and good health, but the poor believes that it is money.
Overall poverty as defined by the UN encompasses all aspects of human life and possible areas where poverty can be seen. But the challenge with this definition is that it varies across individuals. The rich sees poverty as being unloved or lonely but the poor sees it as lack of money and other basic things of life. How then can we solve what we cannot define in its absoluteness?
Fine, there is an element of solution for absolute poverty defined by the UN. But can there ever be a solution to overall poverty?
Just at a time when the target set by the UN to reduce world poverty by half had elapsed, the blockchain decentralization gained momentum. And for once, a relief was breathe in the world about the possibility of personalizing financial and other experiences. At this time, what could be more promising to end overall poverty in the world than the security and accessibility a technology like the blockchain offers.
Poverty is a personalized experience in which if it has the same feature with several others, it becomes overall. And overall poverty can’t be solved through centralization, it has to be from the ground up which gives a very good linkage with blockchain decentralization. Virtually everything and anything can be modeled on the technology of blockchain, it would be fascinating to see an end to poverty through a personalized poverty reduction approach.
A situation where the unloved gets loved, the outcast gets accepted into the society and the poorest of the poor lives above the proposed poverty line, all
It is important to note that decentralization itself is not the holy grail of poverty reduction but a channel through which it can be reduced significantly. Decentralization of things can be used to instill competition in central authorities. This is because little central control could be needed in the decentralized affairs. Same way competition is healthy for any business to thrive, blockchain decentralization technology for me is poverty reduction and a pillar of support and one a person can count on for the future.
What does poverty mean to you, and does blockchain technology come across to you as a frontier for poverty reduction in the world?
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Originally published at https://steemit.com on November 10, 2017.
