Blockchain for Global Development

technology right now? Most of the builders of the Ethereum blockchain ecosystem at ConsenSys share a vision of a decentralized future that creates opportunity and abundance for all people. Ethereum has the unique potential, and some may believe even an obligation, to create a more accessible, equitable, and inclusive ecosystem from the outset by investing in social impact initiatives now. The developing world stands to benefit most dramatically from creative applications of decentralizing tools and economies. This essay explores possible ways Ethereum-facilitated technologies can shape global development. We focus on three core applications of blockchainenabled solutions: peer-to-peer smart contracts, self-sovereign identity, and consumer utility tokens. The Ethereum blockchain is a public, open-source, distributed computing platform that supports the development and utilization of decentralized applications. Whereas the Bitcoin blockchain was designed primarily as a payment system, Ethereum allows for more diverse capabilities, including its associated cryptofuel (similar to a currency), Ether, as well as smart contracts (see below). “Smart contracts” are not actually smart, nor are they necessarily contracts in a legal sense. They are just executable program objects on certain blockchains that support them, like Ethereum. A blockchain is a distributed ledger that enables tamper-proof, secure recording of transactions, collected BLOCKCHAIN FOR GLOBAL DEVELOPMENT