Home Blockchain Cardano (ADA) Blockchain Based Identity for Refugees beyond Centralized and Decentralized

Cardano (ADA) Blockchain Based Identity for Refugees beyond Centralized and Decentralized

Cardano ADA Blockchain

Applying for loans and remittances will need an identity. Without identity, it is getting hard for refugees to send money back home – very expensive.    Remittance fees cost anywhere from 5% to 10%, depending upon the country to which the money is sent. Unlocking a whole range of services and financial inclusion requires digital identity. Cross-border payments using blockchain and cryptocurrency technologies bring down transaction fees.

Digital identity is also important for those who are looking to donate money to charities. Blockchains will be able to help track where the donations are going.  It provides the required transparency expected in the charity process.

Reportedly, “The Cardano Foundation 2 and Save the Children, one of the largest international non-profit organizations (NPO) for children, is actively exploring ways to use Cardano and the ADA digital currency for the benefit of their humanitarian initiatives In East Africa.”

The Cardano forum has content on “Emergency Identification and Financial Inclusion for Refugees and disaster victims through blockchain.”

This is becoming important because when a risky situation arises in the absence of identification documents. Reportedly, “In all the chaos, refugees are lucky enough to have time to pack a bag with their family’s identification credentials. Birth certificates, national ID cards, passports, residence permits, or even a driver’s license are often necessary to prove who you are to the authorities. Unfortunately, many people either don’t have the time or means to bring with them proper identification.”

By digitizing identities and essential documents, the Cardano blockchain claims to be able to solve inefficiencies in the refugee crisis by digitizing identities and essential documents. Thus, the information on the document can be assessed and verified, and there is no need for physical copies.

Refugees who have the means to share appropriate credentials can help immigration authorities in safe third countries vet applicants better, and it will help establish an easily managed and smooth refugee process.

Cardano clarifies that blockchain-based digital Identity solutions are different from being decentralized or centralized and permission or permissionless. Cardano claims that centralized digital identity will be dangerous as a company or government will have control over the data and will further decide who has access.

The decentralized ledger is important as the information stored on the blockchain cannot be erased or manipulated by a centralized authority.  Also, for refugees, the country’s authority from which a person is fleeing from doesn’t have control over their identity.

There are multiple companies and organizations working on a blockchain-based digital identity, such as IBM and Input-Output Global, the development company that built Cardano.

Read more about:
Share on

Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.

Get the latest updates from our Telegram channel.

Telegram Icon Join Now ×