Blockchain for secure information exchanges worldwide
Our world is driven by information. Financial exchanges and the sharing of important data, such as supply-chain information, identity details and entries in land registers, form part of our everyday life. The faster this information is received and the more accurate it is, the better. Blockchain makes this possible. It is a new form of data storage that ensures such exchanges are secure, fast and transparent.
Blockchain offers three essential characteristics:
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Data is not stored centrally. Rather than being held on a single server managed by a central authority, such as a bank or government agency, identical copies of the data are stored on different computers. All the participants in the network, who each hold equal rights, can access the very latest version of the data.
Thanks to these characteristics, the blockchain establishes trust between users, without the need for a central trust authority such as a bank. This enables designing cooperation more efficiently across national and organisational boundaries: administrative processes become leaner, transactions faster and more cost-effective, corruption is made more difficult. Ultimately, more development funds reach the beneficiaries.
Projects
INATrace
is a digital, open-source, blockchain-based traceability solution with the aim to improve the economic situation of smallholder farmers. INATrace enables sustainable, trustworthy and transparent tracking of processes along a supply chain, with the goal of enabling fair payment especially for the people at the beginning of the chain.
Project website
OurVillage
uses blockchain technology for digital community vouchers, with the aim of stabilising and promoting local activities in village communities.
Project website
TruBudget
enables the secure disbursement of public investments in partner countries, and manages work and coordination processes between business partners efficiently and transparently. The software developed by KfW Development Bank is not only based on a blockchain, but is also open-source.
Project website
