Red Cross Lifts Disaster-Prone Societies With Block Chain Money

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In Kenya’s poor rural and slum communities, residents have lots to sell-from home grown tomatoes to their Labour hoeing fields or teaching children-but few people have enough to buy the goods and service, reducing the inducement to produce more.

The Red Cross societies of Norway, Denmark and Kenya on Tuesday 26th November 2019 launched a two-year effort to smooth trade in communities.

The project aims to improve the use of $ 1 billion a year in aid distributed as cash and vouchers by the Red Cross-the largest humanitarian donor after the United Nations-to meet needs before and after disasters.

Paula Gil, a Geneva-based humanitarian consultant, said the technology could bring about a revolution in aid delivery.

Will Ruddick, a founder of Grassroots Economics, a foundation that develops community currencies including for the Red cross project, said the block chain-backed exchange systems could reshape how spending for development and resilience-building was directed around the world.

It is also relatively cheap to run, at about $40000 a year for servers and support to cover all of Kenya, following more than $1million in initial start-up funding from Norway and other donors, he said.

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Author

Timothy Omondi