• Blockchain and Web3 are enabling different communities around the world to use the technology’s building blocks to solve issues specific to each of them.
• Examples of these solutions include Universal Basic Income (UBI), undercollateralized loans, and micro-work.
• Celo has a global ecosystem with builders in 150 countries, primarily located in countries in Africa, Latin America, and Brazil.
Blockchain technology and Web3 are revolutionizing the way people interact with the digital world. This novel technology is allowing different communities across the globe to use its building blocks to solve issues that are specific to them. For example, the platform Celo is working to tackle global issues through its global ecosystem of builders in 150 countries. These countries are primarily located in Africa, Latin America, and Brazil.
There are multiple solutions that this technology is helping to provide. Universal basic income (UBI) is one of the most talked-about solutions. This would provide a regular, predetermined amount of money to people regardless of their work status. Another solution is undercollateralized loans, which are loans that are not backed by any physical asset or collateral. Finally, micro-work is another solution that blockchain technology and Web3 are helping to provide. This is where people can do small tasks online and get paid in crypto.
The value of Web3 is largely measured by metrics like total value locked (TVL), but Cazador believes that the value should also be measured in terms of the communities being helped and the basic needs being met. For Brazil, the focus is on protecting the Amazon, while in Kenya, the focus is on providing microwork opportunities for the high unemployment rate and young population.
Overall, blockchain and Web3 technology are providing new and innovative solutions to global problems. It is allowing people to create and use their own building blocks to solve specific issues in their own communities. This technology is also providing a new way to measure the value of Web3, by looking at the communities and basic needs being met. Blockchain technology and Web3 are revolutionizing the way we interact with the digital world.