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Will blockchain emerge as a tool to break the poverty chain in the Global South?

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  • Nir Kshetri

Abstract

Just like its recent predecessors, blockchain – also known as the distributed ledger technology – is considered to have the potential to cause major economic, political and social transformations in the Global South. The visible effects of this technology are already being noted there. We present early evidence linking the use of blockchain in overcoming some economic, social and political challenges facing the Global South. The article highlights the key applications and uses of blockchain in developing countries. It demonstrates how blockchain can help promote transparency, build trust and reputation, and enhance efficiency in transactions. The article looks at opportunities and key triggers for blockchain diffusion in these countries. It also delves into challenges and obstacles that developing economies are likely to encounter in the use of blockchain.

Suggested Citation

  • Nir Kshetri, 2017. "Will blockchain emerge as a tool to break the poverty chain in the Global South?," Third World Quarterly, Taylor & Francis Journals, vol. 38(8), pages 1710-1732, August.
    • Handle: RePEc:taf:ctwqxx:v:38:y:2017:i:8:p:1710-1732
    DOI: 10.1080/01436597.2017.1298438
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    Cited by:

    1. Yousefi, Samuel & Mohamadpour Tosarkani, Babak, 2022. "An analytical approach for evaluating the impact of blockchain technology on sustainable supply chain performance," International Journal of Production Economics, Elsevier, vol. 246(C).
    2. Helder Miguel Correia Virtuoso Sebastião & Paulo José Osório Rupino Da Cunha & Pedro Manuel Cortesão Godinho, 2021. "Cryptocurrencies and blockchain. Overview and future perspectives," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 21(3), pages 305-342.
    3. Sam Hartmann & Sebastian Thomas, 2020. "Applying Blockchain to the Australian Carbon Market," Economic Papers, The Economic Society of Australia, vol. 39(2), pages 133-151, June.
    4. David Mark Dror & Martin Eling, 2021. "Innovations in microinsurance research," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(3), pages 325-330, July.
    5. Heidary-Dahooie, Jalil & Rafiee, Mostafa & Mohammadi, Mehdi & Meidute-Kavaliauskienė, Ieva, 2022. "Proposing a new LSGDM framework based on BWM with hesitant fuzzy information for prioritizing blockchain adoption barriers in supply chain," Technology in Society, Elsevier, vol. 71(C).
    6. Krings, Katharina & Schwab, Jakob, 2020. "Blockchain-Technologie in Lieferketten: Welche Chancen bietet sie für nachhaltige Entwicklung?," Analysen und Stellungnahmen 19/2020, German Institute of Development and Sustainability (IDOS).
    7. Teck Ming Tan & Jari Salo, 2023. "Ethical Marketing in the Blockchain-Based Sharing Economy: Theoretical Integration and Guiding Insights," Journal of Business Ethics, Springer, vol. 183(4), pages 1113-1140, April.
    8. Adam, Isabelle & Fazekas, Mihály, 2021. "Are emerging technologies helping win the fight against corruption? A review of the state of evidence," Information Economics and Policy, Elsevier, vol. 57(C).
    9. Stöcker, Claudia & Bennett, Rohan & Koeva, Mila & Nex, Francesco & Zevenbergen, Jaap, 2022. "Scaling up UAVs for land administration: Towards the plateau of productivity," Land Use Policy, Elsevier, vol. 114(C).
    10. Yunpeng Xiao & Bufan Deng & Siqi Chen & Kyrie Zhixuan Zhou & Ray LC & Luyao Zhang & Xin Tong, 2023. ""Centralized or Decentralized?": Concerns and Value Judgments of Stakeholders in the Non-Fungible Tokens (NFTs) Market," Papers 2311.10990, arXiv.org, revised Nov 2023.
    11. Bennett, Rohan Mark & Pickering, M. & Sargent, J., 2019. "Transformations, transitions, or tall tales? A global review of the uptake and impact of NoSQL, blockchain, and big data analytics on the land administration sector," Land Use Policy, Elsevier, vol. 83(C), pages 435-448.
    12. Tong, Antonia, 2021. "The possibility of a decentralized economy in China and the USA," MPRA Paper 109609, University Library of Munich, Germany.
    13. Sahebi, Iman Ghasemian & Mosayebi, Alireza & Masoomi, Behzad & Marandi, Fatemeh, 2022. "Modeling the enablers for blockchain technology adoption in renewable energy supply chain," Technology in Society, Elsevier, vol. 68(C).
    14. Tandon, Anushree & Kaur, Puneet & Mäntymäki, Matti & Dhir, Amandeep, 2021. "Blockchain applications in management: A bibliometric analysis and literature review," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    15. Heidari , Hamed & Mousakhani , Morteza & Alborzi , Mahmood & Divandari , Ali & Radfar , Reza, 2019. "Explaining the Blockchain Acceptance Indices in Iran Financial Markets: A Fuzzy Delphi Study," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 14(3), pages 335-365, July.
    16. Böhmecke-Schwafert, Moritz & García Moreno, Eduardo, 2023. "Exploring blockchain-based innovations for economic and sustainable development in the global south: A mixed-method approach based on web mining and topic modeling," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    17. Ivana Racetin & Jelena Kilić Pamuković & Mladen Zrinjski & Marina Peko, 2022. "Blockchain-Based Land Management for Sustainable Development," Sustainability, MDPI, vol. 14(17), pages 1-15, August.
    18. Xiao, Yunpeng & Deng, Bufan & Chen, Siqi & Zhou, Kyrie Zhixuan & LC, RAY & Zhang, Luyao & Tong, Xin, 2023. ""Centralized or Decentralized?": Concerns and Value Judgments of Stakeholders in the Non-Fungible Tokens (NFTs) Market," OSF Preprints evz4p, Center for Open Science.
    19. Archana A Mukherjee & Rajesh Kumar Singh & Ruchi Mishra & Surajit Bag, 2022. "Application of blockchain technology for sustainability development in agricultural supply chain: justification framework," Operations Management Research, Springer, vol. 15(1), pages 46-61, June.
    20. Eun-Jung Shin & Hyoung-Goo Kang & Kyounghun Bae, 2020. "A Study on the Sustainable Development of NPOs with Blockchain Technology," Sustainability, MDPI, vol. 12(15), pages 1-18, July.
    21. Krings, Katharina & Schwab, Jakob, 2021. "Blockchain technology in supply chains: What are the opportunities for sustainable development?," Briefing Papers 2/2021, German Institute of Development and Sustainability (IDOS).
    22. Märkel, Christian & Stronzik, Marcus & Simons, Martin & Wissner, Matthias & Lundborg, Martin, 2021. "Einsatz von Blockchain in KMU: Chancen & Hemmnisse," WIK Discussion Papers 477, WIK Wissenschaftliches Institut für Infrastruktur und Kommunikationsdienste GmbH.
    23. Atanu Chaudhuri & Manjot Singh Bhatia & Yasanur Kayikci & Kiran J. Fernandes & Samuel Fosso-Wamba, 2023. "Improving social sustainability and reducing supply chain risks through blockchain implementation: role of outcome and behavioural mechanisms," Annals of Operations Research, Springer, vol. 327(1), pages 401-433, August.
    24. Rudolf Wirawan & Janet J. McIntyre-Mills & Mphatheleni Makaulule & Patricia Vhahangwele Lethole & Enid Pitsoane & Akwasi Arko-Achemfuor & Norma R. A. Romm, 2023. "Together We Can Grow: Resourcing the Commons Through Pathways to Wellbeing," Systemic Practice and Action Research, Springer, vol. 36(5), pages 641-690, October.
    25. Ozili, Peterson K, 2020. "Contesting digital finance for the poor," MPRA Paper 101812, University Library of Munich, Germany.

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