Blockchain for development: a guiding framework

Abstract

To understand opportunities Blockchain offers for development, we propose a novel framework that considers Business-, Society-, Economy & Finance-, Technology-, and Policy-related factors. It illustrates the complex and multifaceted role of Blockchain in development and is useful in guiding research efforts, formulating actionable advice, and promoting development. We created it methodically, drawing from systematic literature reviews and the authors’ experience with Blockchain and development. Adequately designed and deployed Blockchain systems are relevant contributions that can help address problems that afflict our society, making it more inclusive, fair, and resilient. Solutions that many countries have already adopted in various sectors (e.g. public, financial, business, technology, education) demonstrate the importance of Blockchain to advance development. Further, less developed countries have a window of opportunity to avoid the typical lag in the adoption of Information and Communication Technologies and make quantum leaps that will put them on par with more developed counterparts.