Homepage > Article > Blockchain for sustainable development: Potentials for MSPs?
Date: 2.12.2021
Categories: Article, Partnerships2030

Blockchain for sustainable development: Potentials for MSPs?

Copyright: Emir Egricesu / Unsplash

Every now and then, technologies are credited with impacts that can change the world – and blockchain technology is no exception. 

The potential here lies primarily in transparent, decentralized, and resilient structures, whereby the technology can impact societies, economies, and government institutions, bringing about various profound changes. In addition to its probably best-known association with cryptocurrencies, the technology is also being discussed, sporadically already used, in the field of sustainable development and international cooperation.

The blockchain-based software Tru Budget, for example, contributes to the transparent and secure implementation of public investments in developing and emerging countries. In the Azraq refugee camp in the Jordanian desert, refugees can pay for their groceries using blockchain technology through cryptographically secured food coupons as part of a World Food Program (WFP) pilot project. The INATrace tool can be used to trace the steps in global agricultural supply chains and thus evaluate them in terms of sustainability.

The decentralized principle and its transparency make the technology attractive for many fields of action. The INATrace tool shows that blockchain solutions can also be interesting for application in Multi-Stakeholder Partnerships (MSP) – for example for those dealing with sustainable supply chains. But other use cases are also conceivable. Different focal points at GIZ already offer expertise to address new creative ideas and assess their potential for sustainable development. Partnerships2030 offers to consult on ideas for applying the technology in MSP.