Bitcoin and blockchain technology arrived with little fanfare. Since then, they have become some of the most talked-about topics around. Today, many people look beyond Bitcoin’s power to reshape the financial system.
As a cryptocurrency, Bitcoin (BTC) has already proved its worth. As technology moves forward, the Bitcoin blockchain is slowly growing to solve real-world problems.
In its early days, the Bitcoin network mostly handled decentralized payments, meaning transfers of value between users. It did not support smart contracts. A smart contract is code on a blockchain that runs by itself when set conditions are met. Without them, the oldest blockchain could not reach its full potential.
How Bitcoin Grew Beyond Payments
Over the years, the Bitcoin network has changed many times. It can now support a wide range of real-world uses.
After the Taproot upgrade, new projects such as Stacks joined the Bitcoin ecosystem. Taproot was a 2021 upgrade that made Bitcoin transactions more private and flexible. Stacks is a separate layer that connects to Bitcoin. These projects brought new features:
- Smart contracts
- Better scalability, meaning the network can handle more activity
- A smoother user experience (UX)
All of these help widen Bitcoin’s uses, especially for social good.
What social impact means
Social impact is a broad term. It covers many things, but it generally means actions that directly help people, communities and society as a whole.
Bitcoin helps the unbanked and underbanked reach basic financial services without middlemen or central authorities. It also has a real-world impact through several promising projects. Two of them are covered below.
Raising Funds To Build Schools And Communities Globally
Satoshibles NFTs is a project built on Stacks. It recently teamed up with the Built With Bitcoin Foundation to raise money for the foundation’s work building schools and communities worldwide.
The Built With Bitcoin Foundation is a non-profit powered by Bitcoin and other cryptocurrencies. It provides:
- Clean water
- Fair access to good education
- Sustainable farming
- Humanitarian support
So far, the foundation has built six schools, two each in Rwanda, Nigeria and Kenya. It has also completed more than ten water projects and supported dozens of farms. Its goal is to build at least 100 schools and communities by the end of 2030, all powered by Bitcoin and other cryptocurrencies.
The Built With NFT initiative
To support this cause, Satoshibles NFT has partnered with the foundation to launch the Built With NFT initiative. Satoshibles is one of the most successful NFT projects.
This limited-edition NFT collection aims to raise thousands, or even millions, of dollars for humanitarian work. It features artwork by students at BWB (Built With Bitcoin) campuses in Africa, mainly at schools in Nigeria, Kenya and Rwanda.
Newer projects build giving into their design, as with Giant Token’s charity-driven Web3 infrastructure.
According to the BWB and Satoshibles team, 10,000 unique NFTs will be put up for sale. The money will help the foundation build more schools and communities as it expands across Western and Central Africa.
Phase I in Nigeria
The Satoshibles team has also donated around 10 ETH to the foundation to kick off Phase I of the project. This phase covers work at two existing nursery and primary schools in Kaduna State, Nigeria. These schools serve a community of over 2,000 people. The work includes:
- A water well
- Solar panels
- A computer lab
- Landscaping and fencing
Expanding The Data Storage Capabilities Of Boston IVF
Eggschain is a healthcare technology firm based in Austin. It uses Stacks blockchain infrastructure to serve the fertility sector. It handles supply chain tracking, inventory management and custody of samples.
Eggschain is the first patented cloud-based system that combines blockchain and genetics. It gives IVF (in vitro fertilization) clinics and patients medical-grade data. This data is secure, transparent and trackable around the world.
How Eggschain works
Eggschain acts as a “custody management system.” It securely stores data about IVF, blood, stem cells, DNA, organs, RNA and tissues.
It also helps clinics track their inventory. This includes personal samples, such as eggs and sperm, and lab items, such as maintenance schedules and supplies.
Eggschain uses blockchain to cut the time needed for sperm selection. It also gives patients end-to-end data protection. This reduces filing errors and makes the whole process more transparent.
Eggschain combines the strengths of both networks:
- From Bitcoin: security, immutability (records cannot be changed) and transparency
- From Stacks: smart contracts, scalability and low costs
With this mix, Eggschain aims to transform the multi-billion-dollar global fertility market.
The Boston IVF partnership
Eggschain recently announced a partnership with Boston IVF, one of the best-known fertility clinic groups in the world. Through this deal, Eggschain will provide blockchain infrastructure for Boston IVF’s chain of 30 fertility clinics across the US.
The system will track frozen sperm samples used in IVF and other fertility and non-fertility treatments. Eggschain will also help Boston IVF with long-term storage of genetic data.
Using blockchain in Boston IVF’s operations should greatly improve the patient experience. It will offer strong security, permanent records and full transparency. For more on how the technology works, read our guide on what blockchain is.
