• Blockchain and Web3 technology are being used to solve unique issues in various communities around the world.
• Examples of how this technology is being used include universal basic income (UBI), undercollateralized loans, and micro-work.
• Xochitl Cazador, Head of Ecosystem Growth at the open-source, mobile-first Celo platform, notes that the value of Web3 can be measured not only by metrics like total value locked (TVL) but also by looking at the communities and basic needs being met.
The emergence of blockchain and Web3 technology has been a game-changer when it comes to enabling different communities across the world to use the novel technology to solve issues specific to them. This provides a range of advantages that can be used to address some of the biggest challenges facing people in different regions around the globe.
Xochitl Cazador, Head of Ecosystem Growth at the open-source, mobile-first Celo platform, notes that the value of Web3 can be measured not only by metrics like total value locked (TVL) but also by looking at the communities and basic needs being met. She adds that Celo has a global ecosystem with builders in 150 countries, many of whom are in emerging markets and are creating projects that focus on real-world use cases.
One of the most remarkable examples of how blockchain and Web3 technology are being used is in providing universal basic income (UBI). This technology is also being used to create undercollateralized loans and facilitate micro-work, both of which can have a profound impact on people’s lives. In countries with high unemployment rates and young populations, such as Kenya, projects are being launched to allow microwork which can be a great use case for crypto.
In Brazil, blockchain and Web3 technology is being used to protect the Amazon rainforest, while in Nigeria, Kenya, and Uganda, the focus is on providing people with access to financial services and tools. All of these projects are aimed at creating solutions for their respective communities.
Overall, the advantages of blockchain and Web3 technology cannot be underestimated, especially when it comes to the potential to create positive change in communities around the world. The value of Web3 can be measured not only by metrics like total value locked (TVL), but also by looking at the communities and basic needs being met. With projects being launched in countries around the world, the potential for positive change is immense.