THE VALUE OF BLOCKCHAIN FOR SUSTAINABLE DEVELOPMENT GOALS AFTER COVID-19
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Abstract
After the devastating effects of the COVID-19 epidemic, countries around the world are racing to overcome these challenges and reach the Sustainable Development Goals by 2030. In many vital areas, such as finance, global supply chains, international trade, healthcare, and insurance, blockchain is predicted to create significant changes and transformations. Our paper attempts to explore how Blockchain technology could be used to curb COVID-19 challenges and how it could accelerate the achievement of SDGs from several perspectives. A qualitative approach is adopted in this study to examine the effectiveness and contribution of Blockchain projects on the social, economic, ecological and development fronts. To do so, we examine the number of Blockchain projects created by the United Nations and compare it with that created by international corporations according to several factors. The results show that UN Blockchain projects are more aligned and consistent with the SDGs. However, the Blockchain projects adopted by the sample of international corporations focus on economic and political aspects. Such results raise awareness regarding the framework and module that should be regulated on a global scale regarding any Blockchain project. As a result of this study, we conclude that blockchain technology has numerous benefits and characteristics that enhance credibility and accelerate achieving the SDGs. However, international corporation should rationalize their adoption of blockchain projects and keep pace with their application based on criteria that strike a balance between economic and economic goals. Whether it's multinational corporations or international organizations, the key to achieving the Sustainable Development Goals is coordinating and communicating, and the quickest way to achieve that is by adopting a common model for blockchain implementation.
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