In a rapidly advancing technological world dominated by tools like blockchains and AI, many communities still struggle with age-old problems such as poverty, lack of access to clean water and electricity, and financial exclusion. While progress is being made, particularly in relation to the United Nations’ Sustainable Development Goals (SDGs), certain regions, notably Africa and South America, are still facing significant challenges.
Despite living in a highly digital age, the gap between the privileged and underprivileged continues to widen. However, to effectively address real-world issues, practical solutions are needed. This is where the potential of blockchain technology comes into play. Unfortunately, much of the blockchain space is currently dominated by speculative trading and abstract use cases that are disconnected from daily realities.
This is where the Stellar Development Foundation (SDF), a nonprofit organization supporting the growth and development of the Stellar network, comes in. The Stellar network aims to bridge the digital divide by providing tangible blockchain solutions to help impoverished communities, with a particular focus on accessible financial services. Through its support of the Stellar blockchain, the SDF aims to bring financial inclusion to unbanked and underbanked populations around the world.
The Stellar blockchain enables low-cost, near-instant cross-border transactions, which can be life-changing for individuals in emerging economies. By doing so, the Stellar network not only showcases the potential of blockchain technology but also applies it in ways that directly benefit people, especially those in disadvantaged communities.
Numerous companies and projects worldwide are already taking advantage of the Stellar blockchain. For example, Arf, a global remittance platform, utilizes the Stellar blockchain to offer regulated financial services, ensuring same-day settlements for financial institutions while maintaining transparency and traceability in transactions. Getpaid leverages the Stellar blockchain to enable seamless crypto payments, expanding global crypto payment options for various financial services. Additionally, Félix, in collaboration with Bitso, provides a WhatsApp-based payment platform that allows U.S.-based Latino immigrants to send remittances to their families in Latin America quickly and affordably, addressing traditional remittance challenges.
These use cases demonstrate the Stellar network’s ability to support real-world solutions for financial issues, showcasing its potential to redefine cross-border transactions, business payments, and remittances using blockchain technology.
One individual who recognizes the real-world impact of blockchain technology is Idris Elba, a well-known actor with a significant humanitarian footprint. Elba’s alignment with the SDF is not just a superficial endorsement; it represents a shared vision of leveraging technology for real-world impact where it is most needed.
The SDF’s latest campaign, “Where Blockchain Meets the Real World,” in collaboration with Idris Elba, highlights the technological potential of blockchain and showcases its ongoing real-world applications. Elba, with his extensive humanitarian work and role as a UN Goodwill Ambassador, embodies the principle that technology should primarily benefit humanity.
During the annual Meridian Conference, an event focused on networking and opportunities for blockchain developers organized by the SDF, Cointelegraph had the opportunity to interview Idris Elba and SDF executive director and CEO Denelle Dixon.
When asked about his passion for humanitarian work, Elba explained that his upbringing and experiences motivated him to be a voice for those who lack accessibility and opportunities. He emphasized that his focus is always on the people and how he can use his platform to make a difference.
Dixon provided insights into the mission of the Stellar Development Foundation, emphasizing its unique status as a nonprofit entity focused on creating equitable access to the global financial system. She highlighted the foundation’s approach of empowering builders by providing open-source tools for them to create solutions based on the problems they face.
Elba explained why he chose to partner with Stellar, citing the organization’s focus on solution-based efforts and its potential for fostering good ideas. He praised Stellar for not only providing potential benefits for him but also educating him about the technology.
Discussing the challenges faced by communities in Africa, Elba highlighted the lack of infrastructure and different perspectives on electricity and access to basic amenities. However, he also emphasized the incredible potential within these communities and the need to provide them with the tools to articulate and implement their innovative ideas.
Elba shared a personal experience from Kenya where farmers used Google Maps and a weather system to climate-proof their agricultural practices, demonstrating how technological advancements can significantly impact people’s lives.
Dixon discussed the Soroban smart contract platform as a major project for Stellar, opening up opportunities for builders and creators to access more resources and funding. She emphasized the importance of focusing on the foundation’s mission and providing the necessary tools for builders to create solutions that enhance financial accessibility globally.
In conclusion, the interview highlighted the shared vision of Stellar and Idris Elba to leverage technology for real-world impact and empower individuals. The Stellar Development Foundation’s mission to create equitable access to the global financial system aligns with Elba’s belief that technology should primarily benefit humanity. Together, they strive to create a meaningful impact in everyday lives and unlock the vast potential of blockchain technology.