The underlying technology of the bitcoin “blockchain” has become a significant invention of our time, with high potential to disrupt a large number of today’s industries and change the lives of many, including the refugee community. Blockchain technology can help save the lives of millions of refugees by solving some of the most critical problems they face. Here are three ways the blockchain could help refugee and tackle these issues:
The MENA region has its fair share of initiatives to move towards the 4th industrial revolution – Dubai has launched the blockchain council and some Arab countries are willing to transfer to self-driving cars so what could be the outcomes of these to the region? What could it hold up?
This year, I’ll be at World Government Summit and the first Arab Youth Forum in Dubai on Feb. 12–14, which brings government, futurism, technology and innovation together under one roof. These events set the tone for the impacts of technology on businesses, governments, and societies.
I published this article first at Wamda
Over the past few years, blockchain technology has moved from the fringes to something that can have real impact on all parts of our lives. This isn’t just overstatement. I believe the blockchain is going to be the next thing.
What is blockchain technology?
A blockchain is a simple distributed digital database, the most famous of which is the bitcoin blockchain which first appeared in 2009.
Blockchains are public, as anyone can view the information stored in them at any time. Every new transaction or piece of information is broadcast to a peer-to-peer network, members of which verify it and add its as a new block to the chain.
The Collaborative Economy ideas are not new in the Arab World. Throughout history, people practiced sharing and collaboration in their day-to-day lifestyle as part of culture and religious beliefs. People shared food, products and homes among many other things. They also invented a number of traditional Collaborative/Sharing initiatives which are still being adopted today.
An old model of a non-interest crowd-lending. Jamee’h means ‘commit’; small amounts of savings from a number of individuals that are put together and given to one person. The process is then repeated again, usually on a weekly or monthly basis with each member of the group benefiting from the collected amount.
There is a shy presence for the sharing economy in developing countries due to the trust issue between the strangers, as well as low market penetration of technology for both smartphone and online banking usage, which make it hard for companies like Airbnb or Uber to operate. So what another type of sharing economy initiatives that can overcome those challenges and take place in those countries.
At such facilities, books are replaced with tools in order to “mutualize” resources so that people don’t have to buy tools they would only use once in a while, such as saws, drills, or chisels. Each of these tools is available either for free or for a small fee, increasing the efficiency of each device and helping users save money
Tool libraries are also neighborhood hubs offering classes, community building spaces, workshops and a variety of instruments ranging from belt sanders to lawnmowers and more
The sharing economy may have led to several multi-billion-dollar successes like AirBnb and Kickstarter, and brought the community back into fashion in Europe, but it surely has its share of critics. Many today wonder whether the sharing economy makes sense for the Arab world, and if it can solve any of the region’s problems.
By now, a convincing argument has been made for the need to speed up the transition to a more collaborative region. But, if you remain skeptical, here are four ways the sharing economy could tackle some of the region’s, and the world’s, biggest challenges.
“Accelerating poverty reduction and sustaining human development improvement are significant challenges for the region in the future,” according to a recent World Bank report. In the Arab world, household consumption accounted for as much as 44% of the region’s economy, higher than China’s 35%, which indicates that as the middle class grows, consumers are buying more and more.
Sharing Solution: Sharing initiatives, like tool libraries, for example, can reduce costs for families by lowering the rates of household consumption. At such facilities, books are replaced with tools in order to “mutualize” resources so that people don’t have to buy tools they would only use once in a while, such as saws, drills, or chisels. Each of these tools is available either for free or for a small fee, increasing the efficiency of each device and helping users save money.
Co-Creation may is considered as a logical outcome of open innovation. It’s a strategy that emphasizes the generation and ongoing realization of mutual firm-customer value through new forms of interaction and reduce the gap between companies and customers. The Wikipedia writes that Co-creation is the practice of developing systems, products, or services through the collaborative execution of developers and stakeholders, businesses and clients, or managers and employees. Co-creation could be seen as creating great work by standing together with those for whom the project is intended.
Here is the way that C.K. Prahalad and V. Ramaswamy contrast firm- vs. customer-centric approaches in their book the Co-Creation Connection:
- The consumer is an integral part of the system for value creation;
- The consumer can influence where, when, and how value is generated;
- The consumer need not respect industry boundaries in the search for value;
- The consumer can compete with companies for value extraction;
- There are multiple points of exchange where the consumer and the company can co-create value.