The digital currency industry is constantly looking for ways to build audience awareness and potentially increase the user base. However, that would only be effective if it also coincides with moves to also ensure that the image of cryptocurrencies improves along with it. Building a wider user base is important, building a platform perceived as trustworthy is also vital, and with UNICEF’s announcement that they are seeking to take advantage of blockchain technology to improve their humanitarian operations, the industry may well have found a solution for both problems.
Read the full story below.
There has been much discussion about the potential for the concept of digital currencies as well as where the industry itself is heading, and it is often noted that a breakthrough to a mainstream audience could really change both the scope and direction of development for cryptocurrencies. The problem has always been that there is no real understanding of what mainstream may be in this context, and what kind of association could bring digital currencies into a wider audience and build trust at the same time. Indeed, public awareness itself is not as big of a problem as it was in the past, but gaining public trust still remains a significant hurdle to overcome.
A recent announcement by the United Nations Children’s Fund (UNICEF) though, may show that the industry is actually making real progress to that wider acceptance, and the charity outlined its intention to leverage blockchain technology to enhance its work in improving children’s lives right across the planet. The initial announcement was accompanied by confirmation that they were seeking industry experts to assist in this move, and are looking to build partnerships with software and consultancy businesses to accomplish those goals. The announcement suggested that the blockchain developments will initially focus on both identity and remittance, and the technology offers significant advantages in these areas for their humanitarian work.
In terms of trust and goodwill there are few organizations with the brand image to match UNICEF, recognized around the world for their outstanding work, the digital currency industry can benefit greatly from association with UNICEF, and improved operations here through blockchain will raise awareness across demographics that have until now possible remained out of reach for the cryptocurrency industry itself. Not only does it broaden the potential user base, but because of the humanitarian basis of the work UNICEF do, it is a project that builds trust by association, and that can only be good for the industry longer term.
Indeed, the industry can and should ensure that this really is the flagship use of blockchain, able to demonstrate not only the technology’s effectiveness, but the good work that can be achieved by this new, and to many, confusing technology. Many have talked about ways to open doors, this is the project that could open them all.