Blockchain for Social Good: A Critical Insight into Current and Potential Use

Abstract

With the recent hype surrounding blockchain technology for decentralised systems and applications, the conversation has become very fragmented. In light of a lack of framework, this paper sets out to create a comprehensive and useful overview of the environment surrounding blockchain’s current and potential use for social-impact work. Utilising the PESTEL framework, and treating blockchain as a business-like structure, the analysis narrows in on 24 factors of influence, backed by insights from experts and case-studies. The analysis is discussed to derive concrete opportunities and challenges for any organization or business with a social-impact agenda, which is either considering using blockchain in their operations or developing it for another entity. At the very end, all insights will be condensed into Recommendations for Implementation: as far as manuals go, this thesis comes close.