While the full potential of blockchain is yet to be explored, experts believe that blockchain could eliminate the need for intermediaries in a wide range of transactions. While blockchains have gained popularity due to their ability to support cryptocurrency, they have a range of real-world applications that not many are aware of.
According to a recent report published by CB Insights, at least 36 industries could benefit from the use of blockchain technology. Blockchains can resolve some of the critical problems faced by the international aid sector and the immigration process. How? Keep reading to find out!
How Blockchain Can Benefit the Immigration Process
1. Storing Important Documents
When refugees flee countries in search of a better life elsewhere, they may not have the time to collect relevant documentation such as their passports, marriage licenses, birth certificates, etc. This can make it harder for them to navigate immigrant life in another country.
A blockchain is a decentralized software that can host unlimited digitized assets. The data verified and stored on a blockchain cannot be altered or forged, and it usually carries a time-stamp. Host governments and international aid organizations can issue digitally-authenticated IDs for people across the globe.
Having their documentation stored on a blockchain means that refugees can access proof of their identity from anywhere. It can simplify the immigration process and make settling into a new life easier.
2. Finding Work
Immigrants face various challenges trying to merge with the local labor market. They have to acquire new skills and learn new languages to improve their employment prospects. However, bureaucratic processes can take a long time to process immigrant documentation, and widespread prejudice against immigrants can mean that most people don’t find work for years after arriving in a country.
Blockchain networks offer better transparency and communication between businesses, governments, and immigrants. Governments could issue verified work permits for immigrants and refugees on a blockchain. This shortens administrative procedures and ensures that immigrants can find jobs sooner and with the proper documentation in hand.
Examples of Blockchain in the Immigration Process
– Migranet is a modern immigration platform that aims to speed up the immigrant application process by automating it. It integrates blockchain technology, AI, biometrics, smart contacts, and a Migranet (MIG) utility token to streamline the current process and reduce service costs by up to 90%.
– In 2017, the United Nations sent food aid to over 10,000 Syrian refugees using an Ethereum blockchain. The United Nations World Food Programme (WFP) gave refugees cryptocurrency-based vouchers that they could redeem in participating markets.
– The Finnish Immigration Service, Migri, partnered with Helsinki-based startup MONI to offer refugees a prepaid Mastercard linked to their digital identity. All transactions made with the card are recorded on an Ethereum blockchain. This process makes it easier for immigrants to find employment, pay bills electronically, and receive direct payment from businesses. The program helps immigrants in Finland settle into employed life at a faster pace.