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Chain Reaction

How Blockchain Will Transform the Developing World

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Amid the flood of technical books touting a blockchain revolution, this work offers a nuanced perspective on how these technologies can positively impact developing countries. It contrasts two views: for some, blockchain is an inadequate alternative to efficient banking and regulatory systems; for others, it represents a transformative opportunity, particularly for those in regions with weak rule of law and vague ownership concepts, where trust in institutions is minimal. Blockchain has the potential to facilitate a leapfrogging effect, integrating the next billion emerging consumers into the formal economy by establishing reliable systems of contract, ownership, and trust. The authors humanize the technology through a global exploration of various applications, such as property registration, voting, and aid distribution. Instead of abstract discussions on complex technology, the narrative is enriched with lively anecdotes from places where trust is so fragile that a crisp dollar bill commands a premium over a well-used one. The book aims to be an approachable, comprehensible, and enjoyable read, showcasing the promising future that blockchain can offer.