4 min read
Blockchain technology can empower women in developing economies in many ways. As we know, women in our society play a vital role in every field, and these days the government in almost every country has given rights and power to women to excel in the fields they want.
Financial Inclusion
It’s a reality that in many developing countries, women still face significant barriers to accessing financial services.
Therefore, with the emergence of blockchain technology, women can now easily access financial services. Blockchain technology facilitates financial inclusion by providing a secure and decentralised platform for financial transactions.
Women can now access blockchain technology to save money, access loans, and make payments without going to traditional financial institutions.
Supply Chain Transparency
Blockchain technology facilitates by providing transparency in the supply chain.
However, this explicitly benefits women who work in agriculture and other industries. By accessing blockchain technology platforms, women can be assured that their products are being sold relatively. Through this, women will receive fair compensation for their work.
Identity Verification
Though, it’s a reality that many developing countries still women has no formal identification documents.
Hence, it makes it difficult for women to access services and participate in boosting the economy.
Blockchain technology is an advanced platform where they can easily access a secure and decentralised system for identity verification.
Access To Global Markets
It empowers women by providing a secure and decentralised platform for cross-border transactions.
In addition, the platform enables women to sell their products and services to customers worldwide. This will help them to earn more income and improve their economic standing.
Therefore, blockchain technology enables women to access identity verification, supply chain transparency, and access to global markets.
Hence, by harnessing the power of blockchain technology, women in developing countries can overcome many barriers they have faced for many years.
How Tokenisation Helps Women To Access Credit
Tokenization is converting your assets into digital tokens on a blockchain platform.
The token can later be traded or exchanged on the platform, allowing for greater liquidity and accessibility.
Tokenization can help women to access their transactions in a secure and decentralized way. Through the latest technology, women can access loans without going through traditional financial institutions that may charge high fees and interest rates.
In addition, it also helps to reduce the risk of fraud and increase transparency in the lending process. This enables women to build their creditworthiness, leading to greater economic independence and opportunities.
Hence, Tokenization is a tool for helping women access to credit.
However, other components, like financial education, mentorship and regulatory framework, also play an integral role in ensuring that women can access credit on equal terms.
Blockchain Helps Changing The Coffee Supply Chain In Rwanda: How?
Rwanda is a country known for its high-quality coffee production. Access to blockchain technology helps increase transparency, reduce fraud and improve efficiency in the supply chain.
The technology ultimately benefits smallholder farmers and other stakeholders in the coffee industry.
For instance: Rwanda is experiencing a partnership between the nonprofit organizations The Kahawa 1893 project and the blockchain platform Farmer Connect.
The company works with smallholder coffee farmers in Rwanda to improve the quality of their coffee and increase their income.
However, Farmer Connect provides a blockchain platform for tracking coffee beans from farm to cup. This provides greater transparency and traceability in the supply chain.
Therefore, through the partnership, smallholder coffee farmers in Rwanda can access Farmer Connect to track the journey of their coffee beans from scratch to the final product.
Furthermore, the platform helps reduce fraud and provides a track, whether it’s about the quality of the beans, prices, and the details of buyers.
Alas, the partnership of the International Women’s Coffee Alliance with the blockchain platform creates scalable and transferable supply chain solutions for tracing coffee produced by Rwandan females.
armers.
Read more:
Pakistani Banks Plans To Use Blockchain Technology For KYC
Binance Partners Up With Twitter to Help With Blockchain and Bot Accounts
