What is Blockchain for Financial Inclusion

Written by Lina Lim

Published on April 16, 2018

Last week on 12 April 2018 was the inaugural launch of Blockchain for Social Impact chapter in Sydney. What a great turn out. This event was brought by WWF and Consensys BSIC, with three fantastic gentlemen ReeceClaudio and Nathan behind the scene put together all the works needed that made it a success night.

I was privileged to be asked in a panel discussion with one of the topical subjects in the social issue and challenge as indicated by the World Bank, that is blockchain for financial inclusion, as one that close to my heart and ignite my passion.

To start with, one of the highlight of this panel was we are all women! How fantastic it was! In my earlier LinkedIn post I said that we were just proof how #blockchain is already enabling and delivering one of the UN Sustainable Development Goals (UN SDGs), that is Goal #5 to deliver equality and empowerment for women and girls. Stating this, it also means that the fact this event was organised by the three men I mentioned earlier, also proves us on how much support from men who want to promote and empower women to step up and make the change. This is also rightly to say that blockchain does also bring the proof of impact and elevate the recognition for women and continuing on #PressforProgress.

When I get home that night, I couldn’t stop thinking and feeling that I have not done my best in delivering the messages (albeit that Anorah did brilliant job moderating us, Rosalia and Aiai shared their amazing stories on their works). I felt that I should have emphasized more on what is blockchain means for financial inclusion and the social impact component of it.

Hence, starting to write this ….

I asked the audiences who have heard about Blockchain. Not surprising to see almost (if not all) hands were up. So, the first take away for me is that blockchain brings people together. It is amazing to know that not knowing really whether some or all of them are interested in the social impact aspect, the word of “blockchain” itself has such a powerful “impact” in people and society everywhere, and surely to some hundred people that night.

Now, imagine what blockchain can do for financial inclusion and creating more distributed wealth access. It is so much more than just a technology that enables the money transaction to become accessible to the 2 billion unbanked people.

THERE IS MORE, which it is more on what we will create on opportunity to change and greater impact for those people and their life. Therefore, financial inclusion in blockchain is beyond technology in value of money and access to financial products and services.

Financial inclusion creates and brings better education, improved health situation, and importantly creating your identity on who said you are (both Aiai and I touched briefly on identity). With all these, these people will be able to improve their life’s condition and brings economic changes, firstly into their life, community and ultimately their nation’s economy growth. All these are made possible with the measurable proof outcomes that can be shown through the blockchain. This is the real value of blockchain for financial inclusion, it is enabling ourgreater purpose in creating impactful and purposeful living. This is to me the true definition of “blockchain for social impact”.

And for this reason, a number of thought and servant leadership and technology evangelist have been working tireless creating and advancing the quantum impact in the blockchain for social impact. To name a few are Dr Jane ThomasonAshish GadnisValentine Gandhi and Marvin Coleby.

To conclude, allow me to challenge you with these goals, are you ready to be …

 1. the catalyst of change (meaning and purpose)

2. the billionaire you are destined to be (servanthood and wealth)

3. the story that others will tell (destiny and legacy)

As for myself, I am currently working towards these goals to make this world that we call home for now a better place for everyone. And there is more to come ….. watch this space.

“Do for one what you wish you could do for many. Because if we all did for one what we wish we could do for everyone, it might change the world. But certainly, it would change one person’s world. It may even change your world” – Andy Stanley.

#proteasun #redefine #impactinvesting #tempusadventus