Blockchains will transform the world around you. Whether it’s logistics, healthcare, or manufacturing, the technology is transforming one industry at a time.
Recently, the Center for Social Innovation at the Stanford Graduate School of Business analyzed 193 organizations, initiatives, and projects that are leveraging blockchain to drive social impact.
By mapping and cataloging the landscape of such blockchain applications, the institute’s research captured which applications have already begun to demonstrate proven social impact, which industries and use cases are more or less advanced, and what we should be learning from the hundreds of test cases, pilots, and experiments that are using blockchain for social impact.
Here are their key findings:
We’re still in the early days, but impact is close
Blockchain initiatives dedicated to social impact are still early-stage — 34 percent were started in 2017 or later, and 74 percent are still in pilot idea stage. But, 55 percent of social-good blockchain initiatives are estimated to impact beneficiaries by the end of 2018.
I’ve “been to Hull and back” in today’s news assignment for BBC #WorldHacks. Checking out an interesting digital social initiative called @HullCoin. It rewards people who do social good, like volunteering in a food bank, using #blockchain #tech. #mojo pic.twitter.com/M1DeQIHEsf
— Dougal Shaw (@dougalshawBBC) January 8, 2018
Blockchain enables solutions not previously possible
Of the 193 blockchain initiatives researched, 20 percent are providing a solution would not otherwise have been possible without blockchain, and 86 percent are material improvements over existing solutions.
World Economic Forum (@wef) highlights our project as one of the most promising pathways for a better world through #distributedcomputing:
"Initiatives like #Holochain, Faircoin, Yetta and LocalPay explicitly connect their code base to their social cause."https://t.co/2QcqUSP73K
— Holochain (@holochain) April 13, 2018
The health sector has attracted more initiatives than any other sector
The health sector saw nearly twice as much activity (25 percent of all initiatives) than the next leading sector, Financial Inclusion (13 percent). Philanthropy and Aid and Democracy and Governance (both 11 percent) were the next most active sectors.
Imagine an #insurance policy that gives you cash back just for your balanced #lifestyle. With Insureum it will be a reality. #blockchain #healthcare #fintech pic.twitter.com/YDXNEhkACi
— INSUREUM by ZIKTO (@insureum_zikto) April 23, 2018
Blockchain is most often used to facilitate payments and verify records
The leading use cases for blockchain are records and verification (26 percent) and payments and money transfers (25 percent). Blockchain’s most popular primary benefits are reducing risk and fraud (38 percent) and increasing efficiency (24 percent).
How #blockchain will change the way we transact – #p2p in the #energy industry. @MikeQuindazzi Hashtags #fintech #bitcoin #cryptocurrency #smartcontracts #payments #pwc Report https://t.co/AQSqyyYwOx pic.twitter.com/8usYV9HN1R
— Mike Quindazzi ✨ (@MikeQuindazzi) April 16, 2018