Unlock Real-World Solutions With Blockchain and Web3 Technology

• Blockchain and Web3 technology enables different communities to use its building blocks to solve issues specific to them.
• Examples of solutions include universal basic income, undercollateralized loans, and micro-work.
• These solutions are being developed in countries such as Nigeria, Kenya, Uganda, Brazil, and Colombia.

The emergence of blockchain and Web3 technology has opened up numerous opportunities for communities around the world to use its building blocks to solve issues specific to them. Xochitl Cazador, the Head of Ecosystem Growth at the open-source, mobile-first Celo platform, believes that the value of Web3 can be measured by the communities and basic needs being met. The Celo platform has a global ecosystem with builders in 150 countries, many of whom are in emerging markets.

Some of the most active hubs that are looking to solve different issues with this technology are in Nigeria, Kenya, and Uganda, as well as in areas in Latin America, such as Brazil, and Colombia. Projects in these countries are focused on real-world use cases and solutions such as universal basic income, undercollateralized loans, and micro-work. For example, in Kenya, the unemployment rate is high and the population is very young, so projects are focusing on allowing microwork, which can be done through the use of crypto. Similarly, in Brazil, some projects are focused on protecting the Amazon rainforest.

The solutions being developed with blockchain and Web3 technology are creating many benefits for communities around the world. For example, one individual reported to Cryptonews.com that his monthly income had quadrupled since he started using the technology. This is just one of many advantages of blockchain and Web3, and it goes to show the potential of this technology for creating real-world solutions for communities.

The value of Web3 can be measured not only by metrics such as total value locked (TVL), but also by the communities and basic needs being met. As more and more projects are developed with blockchain and Web3 technology, the potential benefits for communities around the world are becoming more and more evident.

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