Oxfam’s Unblocked Cash project is just the beginning. Let’s take the Vatu to the digital level.
Blockchain-based digital money has been around for about a decade but, due to the sheer volatility of cryptocurrencies like Bitcoin, it’s still often viewed as an obscure geek hobby, or at best some form of online gambling.
But all blockchain currencies are not created equal. “Stablecoins”, for example, have been created specifically to address issues of volatility and are garnering interest around the world for their potential benefits in replacing or complementing physical money. Other forms of blockchain tokens are reaching outside the boardrooms of tech start-ups and demonstrating their real-life potential for mainstream use, without the risks associated with cryptocurrencies.
No need look further than our own shores for proof. Starting in October this year, residents of Sanma affected by Cyclone Harold can use digital tokens to buy relief goods through Oxfam’s Unblocked Cash project, a partnership with the Vanuatu Business Resilience Council, Australian fintech Sempo and a consortium of 12 local and international NGO and private sector partners.
Read More: https://ajc-vanuatu.com/digitizing-the-vatu/
