The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Newsweek Launches Blockchain Impact Awards, Highlighting Need for Digital Currencies and Crypto in Place of Fiat

by Daily Hodl Staff
February 23, 2019
in Blockchain

Newsweek’s first-ever Blockchain Impact Awards recognize entrepreneurs and developers who are applying blockchain tech for social good.

“Our mission is to spotlight the promise of their disruptive ideas, drawing on Newsweek’s nearly century-long heritage of covering the world and the forces and movements that shape it.”

Blockchain is the underlying technology of Bitcoin and its 1000+ crypto offspring.

Recipients of the 2019 Newsweek Blockchain Impact Awards
  • SimplyVital Health – leading the charge to revamp the healthcare industry
  • BitLumens – building a decentralized, blockchain-based micro power-grid for the 1.2 billion people without access to electricity and banking
  • Chronicled – recording all of the transactions that take place as pharmaceuticals travel from factory to container to shelf
  • Prescrypto – providing a blockchain-based infrastructure that can create, send and track electronic prescriptions for doctors, clinics and pharmacies
  • Grassroots Economics – challenging the idea that banks should have a monopoly on currency.

One of five recipients, Kenya-based nonprofit Grassroots Economics is helping people in East Africa create blockchain-based community currencies as an alternative to unstable national currency.

Writes blockchain entrepreneur and selection panelist Amber Baldet in Newsweek,

“Transactions in Grassroots currencies bear no resemblance to the speculative nature of cryptocurrency trading. Around 40 percent of the activity comes from people buying food – giving their families three meals a day, often for the first time. Because there are no fees and transaction costs, purchases can be as small as a single tomato. Schools accept community currencies as fees, in turn allowing them to enroll more children and pay teachers. Health clinics accept these currencies for all types of care.”

Congratulations to @grassEcon for winning the @Newsweek Blockchain Social Impact Awards! They create web-of-trust based local money that decouples communities throughout Africa from unstable national currency; now moving to @Bancor. https://t.co/vJdsNAAE1G

— Amber ?? (@AmberBaldet) February 21, 2019

Kenya’s community-backed currencies provide stability and a hedge against cash amidst political uncertainty and sharp price fluctuations.

In Zimbabwe, hyperinflation has decimated the national currency. According to local news outlet Sunday Times, 

“Zimbabwe’s central bank began trading a sharply discounted replacement currency on Friday, attempting to ease a cash crunch that has hobbled the economy and plunged millions deeper into poverty.”

While Kenya’s currency has not suffered as much as Zimbabwe’s, issuance of new currencies by the government have affected the value of its national currency.

In addition to manipulated fiat, there are reports of fake foreign currency rackets worth billions of Kenyan shillings. 

The region rarely shies away from innovating in the face of necessity. M-Pesa, operated by African telecommunications company Safaricom, created a system that allows phone minutes to be used as a proxy for cash. The region’s positive reception to M-Pesa supports a wider push toward a digital economy and mobile payments built on blockchain technology that offer greater transparency, more stability and reduced manipulation.

Grassroots Economics is preparing to expand into other African regions such as Nigeria and the Democratic Republic of Congo. The use cases for blockchain-based community currencies and cryptocurrencies in these regions are driven mainly by the need for financial inclusion and the reduction of currency risks.

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Unizen and DWF Labs Strategic Partnership To Revolutionize Web 3.0 User Experience
    March 31, 2023
  • Core’s Revolutionary Satoshi Plus Consensus Marries Decentralization, Security and Scalability
    March 30, 2023
  • Lost Worlds Launches Version 2.0 of GeoNFTs in Web 3.0 Platform
    March 30, 2023
  • Script Network, SingularityNET and Stacks Bring Practical Solutions to Real-World Issues
    March 29, 2023
  • OKX To Open Office in Australia
    March 29, 2023
  • Metacade Raises Over $14.7 Million As Presale Sets To Close in 72 Hours
    March 29, 2023
  • Binance Expands AI-Powered NFT Generator Bicasso
    March 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,885.47
$27,885.47
1.34%
Ethereum
$1,774.26
$1,774.26
1.48%
Cardano
$0.372538
$0.372538
3.86%
XRP
$0.536301
$0.536301
2.74%
Dogecoin
$0.07421
$0.07421
2.09%

Spotlight

  • Coin Bureau Names Aave, THORChain and Three Additional Crypto Assets on Its Altcoin Watch List
    March 29, 2023
  • Do Kwon To Be Held in Montenegro for 30 Days As Authorities Investigate Forged Passports: Report
    March 29, 2023
  • Ethereum (ETH) Being Held in Self Custody at Highest Level in History, According to Analytics Firm Santiment
    March 29, 2023
  • Top Trader Says Shiba Inu (SHIB), Dogecoin (DOGE) and One Additional Memecoin Will Run Hard on Next Bitcoin Bounce
    March 29, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl