George Soros, the billionaire investor and philanthropist working to ease the global refugee crisis, said Thursday that he’s found a new way to help migrants: blockchain technology.

Speaking at the World Economic Forum in Davos, Switzerland, Soros explained how the technology underpinning cryptocurrencies such as Bitcoin can play important roles in immigration.

“Blockchain technology can be put to positive use. And we use it actually in helping migrants to communicate with their families and to keep their money safe and to carry it with them,” Soros told the Davos crowd during a question-and-answer session following his speech.

It wasn’t immediately clear how the billionaire was harnessing the technology for these purposes. Soros’ Open Society Foundations, a philanthropic organization dedicated to worldwide democracy, last fall awarded a $100,000 grant to the Center for Human Rights Science at Carnegie Mellon University, which is exploring using blockchain and other new technologies to record rights violations and atrocities. (A spokesperson for Soros’ foundations did not initially respond to a request for more information.)

Blockchains are distributed ledgers that keep a secure record of transactions, whether financial or otherwise.

The most obvious way migrants could use blockchain technology …read more

Source:: Fortune.com – Tech


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