#Understanding Blockchain Technology

[intelisync]

Blockchain Loyalty: 5 Tips for 30% More Retention

What if you could boost customer retention by 30% using a technology that guarantees transparency, security, and personalization? Blockchain is transforming loyalty programs, turning customer retention into a strategic advantage. Learn how this innovative technology can reshape your business.

Blockchain technology is ushering in a new era for customer loyalty programs, offering businesses the tools to increase retention by up to 30%. Unlike traditional systems, blockchain’s decentralized structure ensures that all transactions are transparent, tamper-proof, and secure, fostering greater trust between businesses and their customers. This technology enables the creation of highly personalized loyalty programs through smart contracts and tokenization, where customers can redeem rewards across multiple platforms, thereby enhancing engagement and satisfaction.

The advanced security features of blockchain also safeguard customer data, preventing fraud and boosting confidence in the loyalty program. As the technology evolves, it opens up new possibilities for businesses to design customer-centric programs that adapt to changing preferences, leading to sustained loyalty and long-term growth.

Beyond transparency and security, blockchain offers scalability and cost-efficiency, making it an ideal solution for businesses looking to expand their loyalty initiatives without overwhelming their existing systems. Integrating blockchain with gamification and other innovative strategies allows companies to create more dynamic and engaging loyalty experiences that resonate with customers.

This approach not only drives retention but also provides a competitive edge in a crowded market. By leveraging blockchain’s capabilities, businesses can stay ahead of the curve, offering more responsive and flexible loyalty programs that meet the evolving needs of their customers.

For businesses ready to harness the full potential of blockchain in their loyalty programs, Intelisync is the partner you need. As leaders in blockchain development, Intelisync offers tailored solutions that help businesses implement this transformative technology with ease.

With a focus on security, efficiency, and customer satisfaction, Intelisync is committed to guiding your business toward remarkable retention and success. Take the next step in revolutionizing your loyalty programs—contact Intelisync today and discover how blockchain can redefine your Learn more...

[kc22invesmentsblog]

An Introduction to Blockchain Technology and its Role in Cryptocurrency

Written by Delvin Blockchain technology and cryptocurrencies have revolutionized the way we perceive and interact with the digital world. At the heart of this technological revolution lies blockchain, a decentralized and transparent ledger system that powers cryptocurrencies like Bitcoin and Ethereum. In this blog post, we will delve into the fundamentals of blockchain technology and explore its…

[staricrypto]

Understanding Blockchain Technology

The Building Blocks of Cryptocurrency Introduction: Blockchain technology is at the core of cryptocurrencies like Bitcoin and can potentially revolutionize various industries. In this comprehensive guide, we’ll dive deep into the fundamentals of blockchain technology and its role as the building blocks of cryptocurrency. From its decentralized nature to its immutability and security features,…

[creativemedianews]

Understanding Cryptocurrency: A Comprehensive Beginner’s Guide to Digital Currencies

Understanding Cryptocurrency: A Comprehensive Beginner’s Guide to Digital Currencies

[ronaldtateblog]

Understanding Cryptocurrency: Beginner Insights for Informed Decisions

Understanding Cryptocurrency: Beginner Insights for Informed Decisions Cryptocurrency is revolutionizing the concept of money. It is digital money operating on the internet and providing a new outlook on transactions. Essentially, it is money secured by cryptography, enabling instant and secure transfers anywhere. For beginners exploring digital currencies, there are several options to consider…

[boopathi-writes]

Understanding DAOs: Deciphering the Power of Blockchain-Based Governance

Decentralized Autonomous Organizations (DAOs) are organizational structures based on blockchain technology . They use smart contracts so that investors have a say in decisions. Successful examples of DAOs include community funding and governance projects. However, the most well-known DAO, The DAO, experienced a crash due to a bug in its code. This led to improvements in security and changes in the crypto community. DAOs promote transparency and democracy in decision-making, but they also face legal and governance challenges.They have future potential in various areas, including politics.

What is a DAO?

Decentralized Autonomous Organizations (DAOs) are organizational structures based on blockchain technology that allow investors to have a say in the organization's decisions. They are an innovative form of collaborative and decentralized governance in which decisions are made collectively and democratically.

Definition and concept of DAO

A DAO is defined as an autonomous, decentralized entity that operates through smart contracts on a blockchain. These contracts contain rules and protocols that determine how decisions are made and how transactions are carried out. The concept of DAO is based on the idea of ​​​​eliminating intermediaries and giving decision-making power to participants. Unlike traditional organizations with centralized structures, DAOs allow all community members the opportunity to influence decisions and contribute to the functioning of the organization.

How DAOs work

The operation of a DAO is based on blockchain technology. Smart contracts automatically record and execute decisions agreed upon by participants. These contracts are programmed to be executed transparently and securely, without the need for a central authority. Investors can purchase tokens of a DAO, giving them ownership rights and participation in decisions. These tokens can represent shares, votes, or any other type of value agreed upon by the DAO community. Through these tokens, participants can propose, discuss and vote on different issues within the organization.

Advantages and challenges of DAOs

DAOs offer several significant advantages. Firstly, they promote transparency, since all transactions and decisions are recorded in the blockchain, which guarantees traceability and prevents data manipulation. In addition, decision-making is carried out collectively and democratically, which encourages the participation of all investors and avoids the concentration of power in a few hands. However, DAOs also face challenges. They can be vulnerable to code bugs and malicious attacks, as demonstrated by the collapse of The DAO. Additionally, they face legal and governance challenges as they must comply with applicable regulations and establish effective decision-making processes.

Successful DAO Examples

DAOs have demonstrated their success in different areas, especially standing out in community financing and governance projects. Below are some notable examples in each of these categories, as well as a case study on the collapse of The DAO.

DAO in financing projects

DAOs have revolutionized the way projects are financed, allowing investors to have an active role in investment decisions. A notable example is the DAOstack project, which has developed a decentralized governance platform that allows participants to propose, evaluate and crowdfund projects. This DAO has successfully raised funds for various projects, promoting transparency and community participation in financial decision-making.

DAO in governance and community decisions

Another area where DAOs have proven effective is in community governance and decision-making. A prominent example of this is Aragon, a DAO focused on creating autonomous and decentralized decision-making structures in organizations. Aragon has created a platform that allows communities to efficiently manage resources and make important decisions democratically, without depending on centralized intermediaries. This has facilitated the participation of community members and promoted greater transparency in decision-making.

Case study: The DAO and its collapse

One of the best-known cases about DAO is that of The DAO, an Ethereum-based organization that allowed investors to have a say in investment and project financing decisions. However, The DAO suffered a critical bug in its code that was exploited by a hacker, causing a crisis in the cryptocurrency community. Despite attempts to reverse the attack, the majority of investors voted against the proposal to fix the problem and The DAO collapsed.

Create your DAO with DAO Development Company

This incident was a turning point for DAOs as stricter security measures were implemented and improvements were made to the Ethereum code to prevent and mitigate potential future attacks. Although the collapse of The DAO was a major setback, it also served as a lesson that drove improvements and learnings in the development of DAOs. Since then, numerous successful DAOs have been created and developed in different areas, overcoming the challenges and reaping the benefits of this innovative form of decentralized and democratic organization.

Security and improvements in DAOs after the collapse of The DAO

Following the collapse of The DAO, various security measures were implemented in DAOs to prevent similar incidents. These measures were designed to strengthen investor confidence and ensure the integrity of operations on the blockchain.

Security measures implemented in DAOs

More thorough code reviews: After the collapse of The DAO, the need for more rigorous security audits of the DAO code was established. This ensures early detection of potential vulnerabilities and errors.

Stronger smart contracts: The quality of smart contracts has been improved, paying special attention to their design and code. This prevents the exploitation of potential weaknesses and reduces the chances of failures.

External Audits: DAOs seek validation from external security experts through independent audits. This provides an additional layer of security and guarantee for participants.

Insurance and guarantees: Some DAOs implement the provision of insurance and guarantees to protect investors in the event of attacks or adverse events. This provides greater peace of mind and minimizes associated risks.

Ethereum code improvements

Following the collapse of The DAO, improvements were made to the underlying code of Ethereum to strengthen the security of DAOs. These updates focused on correcting the vulnerabilities exploited in the incident and strengthening the platform in general.

Impact on the cryptocurrency community

The collapse of The DAO had a profound impact on the cryptocurrency community. Following the incident, there was greater awareness of the risks associated with DAOs and the need for more rigorous security and governance measures became evident.

The incident led to greater maturity in the cryptocurrency industry, with greater focus on code quality and the importance of security audits. Additionally, efforts were intensified to educate investors and participants on risk reduction and understanding the working mechanisms of DAOs.

Although the collapse of The DAO was a significant setback, it was also a catalyst for the improvement and evolution of DAOs. The community has learned valuable lessons about security and governance, and hard work has been done to strengthen these structures, giving investors and participants greater confidence in their functioning.

Transparency and democracy in DAOs

Transparency and democracy are fundamental pillars in the operation of DAOs. These decentralized structures use blockchain technology to ensure a reliable and transparent record of all transactions and decisions made within the organization.

Recording of transactions on the blockchain

One of the main benefits of DAOs is that all transactions are permanently recorded on the blockchain. This ensures the traceability and integrity of the data, avoiding any manipulation or alteration.

Thanks to this public and verifiable record, any DAO participant can access complete transaction information, increasing transparency and building trust in the system.

Collective decision making and participant voting

In DAOs, decision-making is done collectively and democratically. All participants have the opportunity to exercise their voice and vote in key decisions of the organization, either through direct voting or by delegating their vote to other members.

This form of decentralized government allows decisions to be made in a more inclusive and representative manner, avoiding the concentration of power in the hands of a few. Furthermore, being backed by smart contracts in the blockchain, the automatic and transparent execution of the decisions made by the majority is guaranteed.

Benefits and limitations of transparency and democracy in DAOs

Transparency and democracy in DAOs offer numerous benefits. On the one hand, it allows for greater trust and community participation, ensuring a greater degree of legitimacy in the decisions made. Furthermore, being a transparent system, the possibility of corruption or manipulation of information is reduced.

However, there are also limitations and challenges associated with transparency and democracy in DAOs. One of the main challenges is finding the right balance between transparency and data privacy. Additionally, collective decision-making may take longer, which may affect decision-making efficiency.

Future of DAOs and their impact in different areas

Political Potential of DAOs

DAOs have the potential to revolutionize the political sphere by allowing more direct and democratic participation of citizens in decision-making. Through smart contracts and decentralized voting, DAOs can empower citizens and reduce the influence of political intermediaries. Furthermore, by recording all transactions on the blockchain, the transparency and traceability of political processes is guaranteed. However, it is important to address legal and governance challenges to ensure that DAOs comply with existing regulations in the political sphere.

Decentralization and democratization in financial management

DAOs can also transform the way different projects are managed and financed. By allowing investors to have a say, DAOs decentralize financial decision-making and offer greater transparency in the process. This can facilitate the participation of small investors and democratize access to investment and project financing. Furthermore, by relying on smart contracts on the blockchain, DAOs eliminate intermediaries and reduce the costs associated with financial transactions. However, security and compliance challenges need to be addressed to ensure trust in these platforms.

Predictions and possible future applications of DAOs

In the future, DAOs are expected to find applications in various areas beyond project financing and community governance. For example, they could be used in the creation of stable cryptocurrencies and in the management of decentralized investment funds. They could also facilitate collaboration and income sharing in the content creator economy. Furthermore, DAOs could have a significant impact on global governance by enabling the participation of non-state actors in international decision-making. However, it is important to continue developing security measures and resolve legal and regulatory challenges to fully realize the potential of DAOs in the future.

[metamarket98-digital]

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[blockchainnewsme]

Building Blocks for Success: Enhancing Understanding for Greater Adoption of Blockchain Technology in the Region

Building Blocks for Success: Enhancing Understanding for Greater Adoption of Blockchain Technology in the Region: As blockchain technology gains momentum, it presents tremendous opportunities for businesses and industries. However, to fully embrace its potential, a solid understanding of blockchain technology, its applications, and the factors driving its adoption is crucial. Potential users must…

[sexymemecoin]

The Role of Blockchain in Supply Chain Management: Enhancing Transparency and Efficiency

Blockchain technology, best known for powering cryptocurrencies like Bitcoin and Ethereum, is revolutionizing various industries with its ability to provide transparency, security, and efficiency. One of the most promising applications of blockchain is in supply chain management, where it offers solutions to longstanding challenges such as fraud, inefficiencies, and lack of visibility. This article explores how blockchain is transforming supply chains, its benefits, key use cases, and notable projects, including a mention of Sexy Meme Coin.

Understanding Blockchain Technology

Blockchain is a decentralized ledger technology that records transactions across a network of computers. Each transaction is added to a block, which is then linked to the previous block, forming a chain. This structure ensures that the data is secure, immutable, and transparent, as all participants in the network can view and verify the recorded transactions.

Key Benefits of Blockchain in Supply Chain Management

Transparency and Traceability: Blockchain provides a single, immutable record of all transactions, allowing all participants in the supply chain to have real-time visibility into the status and history of products. This transparency enhances trust and accountability among stakeholders.

Enhanced Security: The decentralized and cryptographic nature of blockchain makes it highly secure. Each transaction is encrypted and linked to the previous one, making it nearly impossible to alter or tamper with the data. This reduces the risk of fraud and counterfeiting in the supply chain.

Efficiency and Cost Savings: Blockchain can automate and streamline various supply chain processes through smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This automation reduces the need for intermediaries, minimizes paperwork, and speeds up transactions, leading to significant cost savings.

Improved Compliance: Blockchain's transparency and traceability make it easier to ensure compliance with regulatory requirements. Companies can provide verifiable records of their supply chain activities, demonstrating adherence to industry standards and regulations.

Key Use Cases of Blockchain in Supply Chain Management

Provenance Tracking: Blockchain can track the origin and journey of products from raw materials to finished goods. This is particularly valuable for industries like food and pharmaceuticals, where provenance tracking ensures the authenticity and safety of products. For example, consumers can scan a QR code on a product to access detailed information about its origin, journey, and handling.

Counterfeit Prevention: Blockchain's immutable records help prevent counterfeiting by providing a verifiable history of products. Luxury goods, electronics, and pharmaceuticals can be tracked on the blockchain to ensure they are genuine and have not been tampered with.

Supplier Verification: Companies can use blockchain to verify the credentials and performance of their suppliers. By maintaining a transparent and immutable record of supplier activities, businesses can ensure they are working with reputable and compliant partners.

Streamlined Payments and Contracts: Smart contracts on the blockchain can automate payments and contract executions, reducing delays and errors. For instance, payments can be automatically released when goods are delivered and verified, ensuring timely and accurate transactions.

Sustainability and Ethical Sourcing: Blockchain can help companies ensure their supply chains are sustainable and ethically sourced. By providing transparency into the sourcing and production processes, businesses can verify that their products meet environmental and social standards.

Notable Blockchain Supply Chain Projects

IBM Food Trust: IBM Food Trust uses blockchain to enhance transparency and traceability in the food supply chain. The platform allows participants to share and access information about the origin, processing, and distribution of food products, improving food safety and reducing waste.

VeChain: VeChain is a blockchain platform that focuses on supply chain logistics. It provides tools for tracking products and verifying their authenticity, helping businesses combat counterfeiting and improve operational efficiency.

TradeLens: TradeLens, developed by IBM and Maersk, is a blockchain-based platform for global trade. It digitizes the supply chain process, enabling real-time tracking of shipments and reducing the complexity of cross-border transactions.

Everledger: Everledger uses blockchain to track the provenance of high-value assets such as diamonds, wine, and art. By creating a digital record of an asset's history, Everledger helps prevent fraud and ensures the authenticity of products.

Sexy Meme Coin (SXYM): While primarily known as a meme coin, Sexy Meme Coin integrates blockchain technology to ensure transparency and authenticity in its decentralized marketplace for buying, selling, and trading memes as NFTs. Learn more about Sexy Meme Coin at Sexy Meme Coin.

Challenges of Implementing Blockchain in Supply Chains

Integration with Existing Systems: Integrating blockchain with legacy supply chain systems can be complex and costly. Companies need to ensure that blockchain solutions are compatible with their existing infrastructure.

Scalability: Blockchain networks can face scalability issues, especially when handling large volumes of transactions. Developing scalable blockchain solutions that can support global supply chains is crucial for widespread adoption.

Regulatory and Legal Considerations: Blockchain's decentralized nature poses challenges for regulatory compliance. Companies must navigate complex legal landscapes to ensure their blockchain implementations adhere to local and international regulations.

Data Privacy: While blockchain provides transparency, it also raises concerns about data privacy. Companies need to balance the benefits of transparency with the need to protect sensitive information.

The Future of Blockchain in Supply Chain Management

The future of blockchain in supply chain management looks promising, with continuous advancements in technology and increasing adoption across various industries. As blockchain solutions become more scalable and interoperable, their impact on supply chains will grow, enhancing transparency, efficiency, and security.

Collaboration between technology providers, industry stakeholders, and regulators will be crucial for overcoming challenges and realizing the full potential of blockchain in supply chain management. By leveraging blockchain, companies can build more resilient and trustworthy supply chains, ultimately delivering better products and services to consumers.

Conclusion

Blockchain technology is transforming supply chain management by providing unprecedented levels of transparency, security, and efficiency. From provenance tracking and counterfeit prevention to streamlined payments and ethical sourcing, blockchain offers innovative solutions to long-standing supply chain challenges. Notable projects like IBM Food Trust, VeChain, TradeLens, and Everledger are leading the way in this digital revolution, showcasing the diverse applications of blockchain in supply chains.

For those interested in exploring the playful and innovative side of blockchain, Sexy Meme Coin offers a unique and entertaining platform. Visit Sexy Meme Coin to learn more and join the community.

[intelisync]

The Mechanics of Modular Blockchain: How It Works

Imagine a blockchain solution that grows with your startup, adapting to your evolving needs. Modular blockchain technology makes this possible by offering a flexible, scalable, and cost-effective approach to blockchain development.

Modular blockchain technology is reshaping the landscape of blockchain development by introducing a more flexible and scalable architecture. By breaking down traditional blockchain functionalities into distinct modules, startups can create customized blockchain solutions that fit their specific requirements. The primary modules execution, consensus, data availability, and settlement—work together to manage transactions, validate their accuracy, and ensure transparency.

The key benefits of modular blockchains include enhanced scalability, reduced costs, and greater adaptability. Startups can save on implementation and maintenance expenses by selecting only the modules they need. Additionally, the modular design allows for easier updates and improvements, fostering innovation and efficiency. With examples like Celestia, Dymension, and Cosmos leading the way, modular blockchain technology proves to be a game-changer for various industries.

Unlock the potential of modular blockchain with Intelisync's expertise. Our tailored development services are designed to help startups leverage modular technology for enhanced performance and security. Reach out to Intelisync today to revolutionize your blockchain infrastructure and drive Learn more....

[kc22invesmentsblog]

Exploring the World of Cryptocurrency and Blockchain Technology

Written by Delvin In recent years, cryptocurrency and blockchain technology have emerged as transformative forces, revolutionizing the way we think about money, transactions, and data security. This blog post aims to provide a comprehensive overview of cryptocurrency and blockchain technology, delving into their origins, key concepts, real-world applications, and potential implications for the…

[erc20tokengenerator]

ERC20 token generator

Ever wanted to create your own cryptocurrency? Thanks to the ERC20 Token Generator, it’s more accessible than ever. Dive into the world of blockchain and see how simple it can be.

What is an ERC20 Token?

ERC20 tokens are digital assets built on the Ethereum blockchain. They follow a specific standard, allowing them to interact seamlessly with platforms and other tokens.

Benefits of ERC20 Tokens:

Interoperability: All ERC20 tokens adhere to the same protocol.

Widespread Acceptance: Many platforms on Ethereum support these tokens.

Developer Support: Extensive documentation and community support.

How Does the ERC20 Token Generator Work?

Creating a token might sound complex, but the ERC20 Token Generator simplifies the process. Here’s a step-by-step guide:

Define Your Token:

Choose a name and symbol.

Set the total supply.

Access the Generator:

Use online tools designed for token creation.

Input your token details.

Deploy to the Blockchain:

Confirm your details.

Launch your token on the Ethereum network.

Key Features of ERC20 Tokens

These tokens offer various features that make them attractive for both developers and investors:

Standardized Functions: Such as balance checking and transfers.

Smart Contract Integration: Seamlessly integrate with smart contracts.

Security: Built on the robust Ethereum blockchain.

Why Create an ERC20 Token?

Creating your own token can offer several advantages:

Fundraising: Launch your own ICO (Initial Coin Offering).

Community Building: Reward loyal customers or followers.

Innovation: Develop new applications and uses for blockchain.

Potential Challenges

Despite the ease of creation, there are challenges:

Technical Knowledge: Basic understanding of blockchain is required.

Security Risks: Vulnerabilities can lead to exploitation.

Regulatory Issues: Compliance with local laws is crucial.

Best Practices for Creating ERC20 Tokens

To ensure success, follow these guidelines:

Audit Your Code: Ensure there are no security loopholes.

Engage with the Community: Gather feedback and make improvements.

Stay Informed: Keep up with blockchain trends and regulations.

Conclusion

The ERC20 Token Generator opens doors to the exciting world of cryptocurrency creation. Whether you're an entrepreneur, developer, or enthusiast, it offers an innovative way to engage with blockchain technology.

Final Thoughts

Creating an ERC20 token can be a game-changer. It empowers you to participate in the digital economy and experiment with new ideas.

FAQs

1. What is an ERC20 Token Generator?

An ERC20 Token Generator is a tool that simplifies the creation of custom tokens on the Ethereum blockchain.

2. Is technical knowledge necessary to create a token?

Basic blockchain understanding is helpful, but many generators offer user-friendly interfaces.

3. Can I sell my ERC20 tokens?

Yes, you can list them on cryptocurrency exchanges or sell directly to users.

4. Are there costs associated with creating a token?

Yes, deploying tokens on Ethereum requires gas fees, paid in Ether.

5. How do I ensure my token is secure?

Regular code audits and following best practices can enhance security.

Source : https://www.altcoinator.com/

[machine-saint]

i think one of the fundamental problems with the word "techbro" is that it has multiple meanings, some of which contradict each other.

the original term brogrammer referred to programmers who act in a very stereotypical masculine way, as a pejorative. the word "techbro" was sometimes used as a synonym for this. this is why the word "bro" is there, because it's a comparison to frat bros. this is also the only sense mentioned on the wikipedia page. this is also the sense i see the least usage of on tumblr; it was really more of a thing back in 2012-2013 or so.

people also use it to refer to people who are pushing the latest fad; web 3.0, blockchain shit, NFTs, LLMs, whatever. this usage does not require that the person actually knows anything about programming. some of these people genuinely believe in what they're advocating for, some of them are just hopping onto the latest money-making thing. this is the y combinator set.

a third usage is to refer to people who are very into self-hosting, and "own your hardware" type stuff and don't understand that computing is a compromise and not everyone wants to spend all their effort getting stuff to work. this is the rms type. unlike the second definition, this one requires the person to have fairly deep technical knowledge. theoretically you could have someone who doesn't know a lot about computers but is real big into this kind of stuff, but in practice that never happens.

(i'm broadly sympathetic to this type; i avoid music streaming and sync all my music using open-source software, that sort of thing. the "techbro" part, in theory, comes when they look down on others for not making the same choices. of course, the line between "you're looking down on me" and "you're arrogant for simply believing that you're right" is thin.)

in particular, sense-2 and sense-3 "techbros" have very opposite beliefs! one wants to run everything "in the cloud", the other wants to run everything locally. one wants to let chatgpt run your life, the other hates the idea of something they can't audit be that important. both tend to be very "technology will save us" types, but the way they go about that is very different. one makes very sleek-looking but extremely limited UI, the other will make ultra-customizable, ultra-functional UI that's the most hideous and hard-to-use thing you've seen in your life.

and so you can see here the problem: what can we actually say about "techbros" that's meaningful, other than "techbro is when i don't like someone who likes technology"? if a word isn't used as a self-descriptor, but only as an insult, what stops it from becoming broader and broader until it loses all usefulness?

[kareblog]

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[mariacallous]

According to a memo circulating among State Department staff and reviewed by WIRED, the Trump administration plans to rename the United States Agency for International Development (USAID) as US International Humanitarian Assistance (IHA), and to bring it directly under the secretary of state. The document, on which Politico first reported, states that as part of its reorganization, the agency will “leverage blockchain technology” as part of its procurement process.

“All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reads. “This approach would encourage innovation and efficiency among implementing partners and allow for more flexible and responsive programming focused on tangible impact rather than simply completing activities and inputs.”

The memo does not make clear what specifically this means—if it would encompass doing cash transfers in some kind of cryptocurrency or stablecoin, for example, or simply mean using a blockchain ledger to track aid disbursement.

The memo comes as staffers at USAID are trying to understand their future. The agency was an early target of the so-called Department of Government Efficiency (DOGE), which has effectively been headed by centibillionaire Elon Musk. Shortly after President Trump’s inauguration, the State Department put the entire agency’s staff on administrative leave, slashed its workforce, and halted a portion of payments to partner organizations around the world, including those doing lifesaving work. Since then a federal judge has issued a preliminary injunction against the dismantling of the agency, but the memo appears to indicate that the administration has plans to continue its mission of drastically cutting USAID and fully folding it into the State Department.

The plans for the blockchain have also caught staffers off guard.

Few blockchain-based projects have managed to achieve large-scale use in the humanitarian sector. Linda Raftree, a consultant who helps humanitarian organizations adopt new technology, says there’s a reason for that—the incorporation of blockchain technology is often unnecessary.

“It feels like a fake technological solution for a problem that doesn’t exist,” she says. “I don’t think we were ever able to find an instance where people were using blockchain where they couldn’t use existing tools.”

Giulio Coppi, a senior humanitarian officer at the nonprofit Access Now who has researched the use of blockchain in humanitarian work, says that blockchain technologies, while sometimes effective, offer no obvious advantages over other tools organizations could use, such as an existing payments system or another database tool. “There’s no proven advantage that it’s cheaper or better,” he says. “The way it’s been presented is this tech solutionist approach that has been proven over and over again to not have any substantial impact in reality.”

There have been, however, some successful instances of using blockchain technology in the humanitarian sector. In 2022, the United Nations High Commissioner for Refugees (UNHCR) ran a small pilot to give cash assistance to Ukrainians displaced by the Russia-Ukraine war in a stablecoin. Other pilots have been tested in Kenya by the Kenya Red Cross Society. The International Committee of the Red Cross, which works with the Kenya team, also helped to develop the Humanitarian Token Solution (HTS).

One representative from an NGO that uses blockchain technology, but wasn’t authorized to speak to the media with regards to issues relating to USAID, says that particularly with regards to money transfers, stablecoins can be faster and easier than other methods of reaching communities impacted by a disaster. However, “introducing new systems means you’re setting up a new burden” for the many organizations that USAID partners with, they say. “The relative cost of new systems is harder for small NGOs,” which would often include the kind of local organizations that would be at the front line of response to disasters.

The proposed adoption of blockchain technology seems related to an emphasis on exerting tight controls over aid. The memo seems, for example, to propose that funding should be contingent on outcomes, reading, “Tying payment to outcomes and results rather than inputs would ensure taxpayer dollars deliver maximum impact.” A USAID employee, who asked to remain anonymous because they were not authorized to speak to the media, says that many of USAID’s contracts already function this way, with organizations being paid after performing their work. However, that’s not possible in all situations. “Those kinds of agreements are often not flexible enough for the environments we work in,” they say, noting that in conflict or disaster zones, situations can change quickly, meaning that what an organization may be able to do or need to do can fluctuate.

Raftree says this language appears to be misleading, and bolsters claims made by Musk and the administration that USAID was corrupt. “It’s not like USAID was delivering tons of cash to people who hadn’t done things,” she says.

[satellitecock]

Explain the blockchain to me, I don’t really know what cryptocurrency is or why one would speculate on it. Why not use normal money?

So basically, it's like Digital Jenga. This is how I've come to understand it.

I invest in crypto because the money goes up and more money comes out.

We need to stop using normal money because it's backwards thinking.

Technology is the future and it must replace everything.

Bitcoin is the future and it will stop all forms of suffering globally.