Even though we as humans have come a long way from the old days in terms of well being and bettering our living conditions, there is no denying that not everyone gets a similar standard especially when it comes to sustaining it. The United Nations which consist of 193 member states from all over the world got together to create reforms to make the world better. Established in 2000, the Millennium Development Goals (MDGs) had 8 important points targeting international development with the target set at 2015. With most of the objectives met, the UN decided to further advance these points in the 2015 summit. Now known as the Sustainable Development Goals (SDGs) targeting sustainability action at the local level, they include 17 points that all member states have agreed to meet by the year 2030. Keeping this in mind, certain mechanisms have to be adopted that will aid these goals. Technology will be key to fulfil these objectives and Blockchain will be at the forefront of it.
The SDG’s were incorporated after getting the results from the MDG’s which were quite successful.
– 1 Billion + people lifted out of extreme poverty
– Child mortality dropped below half
– Out of school kids dropped below half
– HIV Aids infections dropped below 40%
These facts show that there is a result being obtained through continuous efforts of the UN’s supporting partners but the numbers also show the fact that there is a huge chunk of the population missing out. Even though some of the Goals mentioned above do not relate to human beings, each and every one of them affect us in a way. Hence, finding a solution, matters to all of us. Currently, there are about 7 billion people in the world out of which 2.3 billion people live without an identity. That is almost a quarter of the total population (23%). This is a problem that no one has been able to solve. Governments, NGO’s and others included. With the concept of blockchain and digital identity, this issue might be fixed. Blockchain has made its way into mainstream businesses and is finding solutions in all industries so it is no surprise that it can make a huge impact on the UN SDG’s as well.
It is forecasted that by 2030 when the SDG’s are set to be concluded, 10% of global GDP will depend on Blockchain.
Some of the key features of the technology that are being heralded as main problems solvers are its transparency, enhanced security and movement of value. Not only will it be able to give out a proper database of data, shared and non-editable records will make it more reliable. This value of trust has been debated a lot in the past decades especially when money is involved. With the inclusion of Blockchain and its implications on Finance, we can say that one more problem will be effectively handled. It is important to note that all the goals are interconnected so finding the solution to one might just be the start that the responsible parties need.
The main concern for the UN is controlling the input that different organizations will give to complete these objectives. A chain of hierarchy has been formed with the UN on top, national governments below and then local and subnational governments following them, it is imperative to know that multinational/national businesses and organizations have also started aiding in implementing the UN SDG’s in their respective areas. With every little aid counting towards completing the goals, this is usually met with great appreciation for all stakeholders involved. Most campaigns that are associated with such parties target International Aid, Remittances and healthcare. One thing that is common in all the campaigns is money or the concept of donation. That is where the problem starts. Every year 1 trillion US Dollars goes missing which is equal to 30% of global donations given in charity. With such a massive chunk of donations not able to meet its intended target, the trust in organizations and charities have dwindled causing donors to stop campaigning. Blockchain has found a way to completely eliminate this corruption. By converting all real-world entities into digital assets and enhancing transparency, all the amount given in donation will be accounted for until it reaches its intended recipient. In other words, this is a solution to a 1 trillion Dollar per year problem. One example of the mentioned initiative is Global Charity Recycling. With more and more similar setups being built to aid the completion of the SDG’s, we can definitely say that blockchain will play an important role in the present up till 2030.
Some of the points in the Sustainable Development goals are hugely linked with matters involving improper documentation of identity and inequality. Without identification, there will not be enough information on who needs the help. Without equality, there will not be proper distribution of assistance. The aid provided needs both these things and the best way to do this is through automation and digitization. Blockchain will be imperative in improving both fields and giving all parties involved in maintaining the information a huge boost leading towards future operations. It is known that these objectives that were built for the SDGs came from real world problems. Keeping this information in mind, the solutions to these problems are something that requires full commitment from everyone. It is our responsibility to ensure that we do our part since these problems affect us as well. We have to go with the mentality of “No one getting left behind” to target such issues as poverty and hunger. Even though we as individuals cannot do it alone, we can raise our voices to ensure that those who can do hear the message. A Global message promoting the solution towards ending problems such as poverty, equality, healthcare and more. Blockchain can aid in solving these objectives and more. That is what the UN wants. That is what the world needs. That is what we aim to provide.