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Red Cross Deploys Blockchain to Boost Communities’ Economic Resilience

Published 11/26/2019, 09:20 AM
Updated 11/26/2019, 11:01 AM
Red Cross Deploys Blockchain to Boost Communities’ Economic Resilience

Three national units of the Red Cross — the largest humanitarian donor after the United Nations — are backing a blockchain-based currency scheme to enhance aid delivery and boost local economies.

According to a report from the Thomas Reuters Foundation on Nov. 26, the Red Cross societies of Norway, Denmark and Kenya have launched a two-year plan to replace cash and voucher provision in aid and development efforts with blockchain-backed "local currencies."

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