Current Economic Development Model -
The current economic development systems in the world revolve around exploitation of resources. These resources could be either environmental as evidenced by climate change challenge or natural resources as evidence by race to open artic region for economic activity or Human Resources as evidence by rising inequality world over and resultant political implications of turning inward. Despite the right intention why developed countries are unable to make a big impact. This is because the existing development model is blocking the intent, pro-growth and pro-sustainability are seen as opposites and mutually exclusive.
What is required Today -
The need of the hour is a social-economic development system based around the ideology of sustainability, equitability and fairness, moving away from exploitation to empowerment. The blockchain offers an excellent mechanism as well as an opportunity to form a backbone of empowerment based system. It offers transparency, immutability, fairness, and equitability, when applied to enable multiple applications across different areas of governance and economic activities. At its core is de-centralization that offers better hope of preventing consolidation of opportunity and power in the hands of a few.