How Web 3.0s underlying technology, Blockchain and Digital ID can transform the immigration sector?
Blockchain, the revolutionary technology that is transforming the modern world, is a type of distributed ledger that stores data across many different computers, and it holds records of all transactions. Blockchain has the potential to create a Web 3.0 environment, which is also known as the decentralized web. This new type of environment could have significant implications on global concerns like immigration issues, refugee crises, and humanitarian aid that have been going on for decades and show no signs of slowing down. The blockchain can offer a new way to immigrate people who are in need of asylum from their home country into another nation. In this blog post, we will discuss how Web 3.0s underlying technology, blockchain could help transform the immigration sector by providing more efficient immigration services.
Documentation and Digital Identity
One of the biggest issues faced by immigrants or refugees is inefficiencies in paperwork, posing a problem for them as well as the legal authorities. Without proper paperwork, proving basic details about you, accessing government services, getting a job and almost everything becomes impossible in another country. This is where blockchain can help. Blockchain was originally designed to be used for Bitcoin transactions, but now blockchain can hold any kind of information from birth certificates to death certificates. It creates an immutable ledger of all transactions ever made on the blockchain. This could provide a new way to resolve immigration issues by creating digital identities for immigrants, or providing them with crypto-identities that they can use anywhere in the world without having to carry around physical identification cards. This will help immigration authorities organize and vet applicants better and ensure immigrants’ safety.
Efficient Fund Transactions
Another crucial problem faced by immigrants and refugees is the inefficiencies in money transactions to home countries. There can be several additional fees involved in the traditional transaction that involves middlemen to help transfer money from one bank to another. The time required to process these transactions can also be high. But with blockchain, immigrants can enjoy secure and quick cross-border transfers between an infinite number of bank ledgers bypassing banking intermediaries and reducing the transaction fee by a tremendous amount. It also reduces the risk of loss due to currency fluctuations.
Improved Donations Traceability
Blockchain and the Web 3.0 environment not only facilitate the efficient transaction of funds but also helps track donations to refugee causes. When donations and other transactions are recorded on the blockchain, it becomes easy to check the audit trail that accurately shows where the money came from and every stop it made on its journey. Making the donations and their end uses transparent, verifiable, and traceable prevents fraud and ensures that there is accountability in spending the donations. This also increases the confidence of potential donors in charitable organizations.
Web 3.0 and the underlying blockchain technology have the ability and potential to change the world as we know. It could be the key to solving some of humanity’s most pressing problems including the refugee crisis, data security concerns, and privacy issues. Businesses across the world are also preparing for the crypto future. Thus, blockchain technology could make a large difference in the way that immigrants and refugees are identified and tracked. This will be extremely important for future immigration policies around the world because it would help to ensure refugee safety. At Rubix Networks, we are revolutionizing the world of blockchain. Our PoH (Proof of Harvest) Consensus blockchain mechanism reduces carbon emissions by 100% and promotes building highly scalable, secure, decentralized applications with built-in privacy for the next-gen world wide web- Web 3.0.
