The social impact of cryptocurrency on a larger scale will have a significant impact on many lives and will change the world for the better!!

Cryptocurrencies make it easier for people in different countries to send money to each other, bypassing the financial borders that banks and governments currently control. Emergency aid, welfare, fines, and a slew of other financial areas are all up for grabs. Blockchain is also being built with more flexibility in mind.

Social impact is defined in a variety of ways, but it generally refers to how people, families, and communities are affected by actions and activities. Often, social impact is defined as overcoming a social challenge or having a positive impact on people.

Not only can blockchain be used to track social impact, but it can also be used to shape it. There is a lot of talk about public and private bodies announcing their plans, but it's difficult to prove if this actually happens. It's one thing to tell us; it's quite another to show us. Accountability is a slippery eel in today's fast-paced, globalised, digitised world, whether it's applied to government, charity, or business. In the fight against misinformation, public transparency is a priority. Ethereum co-founder Vitalik Buterin donated $1 billion in cryptocurrency to India's Covid-Crypto Relief Fund earlier this year. We know because the transaction was visible in his public, blockchain-backed digital wallet. Imagine holding governments accountable for spending pledges and keeping track of disaster relief and aid distribution efforts by charities.

Blockchain may be able to rebuild those bridges between centralised systems and the people they serve, thanks to its tracked, audited, and publicly communicated data. Citizens can decipher the truth with the help of verifiable timestamps, geolocations, and supply-chain records.

Even some projects, such as bob eco coin, are assisting African youth with employment while also serving as an environmentally friendly crypto token that runs a variety of educational programmes! Blockchain isn't just about unrestricted transparency; it's also pretty mainstream. On websites like LinkedIn, there are even beginner courses. The potential for blockchain to have a positive social impact is enormous. And, like the internet, we won't know where it's going until we get there.