While Bitcoin and blockchain technology came into existence amid relatively minimal fanfare, it has since become one of the most talked-about topics. The chatter has reached a crescendo, with many people now looking beyond Bitcoin’s potential to reshape existing financial structures.
As a cryptocurrency, Bitcoin (BTC) has already proved its worth. And with the rapid advancement in technology, the underlying Bitcoin blockchain is gradually evolving to cater to real-world issues. The Bitcoin network was primarily limited to facilitating decentralized transactions (transfer of value) between users in its early days. The Bitcoin network didn’t offer smart contracts functionality, which in a way, capped the true potential of the legacy chain.
However, over the years, the Bitcoin network has undergone multiple transformations, finally reaching a point where it is fully capable of supporting a diverse range of real-world use cases. Following the Taproot upgrade, several promising projects like Stacks entered the Bitcoin ecosystem, bringing in new features like smart contracts, scalability, and optimized user experience (UX) – all of which have played and are playing critical roles in expanding the network’s use cases, especially when it comes to driving social impact.
In this context, it is critical to understand that social impact is an umbrella term that covers many different characteristics but generally refers to actions (and activities) that directly impact individuals, communities, and the broader society in general. Besides playing a pivotal role in enabling the unbanked and underbanked to access financial primitives without intermediaries or centralized authorities, Bitcoin makes a real-world impact through several promising projects.
Raising Funds To Build Schools And Communities Globally
Stacks-based project Satoshibles NFTs recently partnered with the Built With Bitcoin Foundation to help raise funds for the foundation’s ongoing efforts to build schools and communities worldwide.
Powered by Bitcoin and cryptocurrencies, the Built With Bitcoin Foundation is a non-profit foundation providing clean water, equitable access to quality education, sustainable farming, and humanitarian support to communities all over the world. To date, the foundation has built six schools (two each in Rwanda, Nigeria, and Kenya), more than ten water projects, and supported dozens of farms. The Built With Bitcoin Foundation aims to build at least 100 schools and communities by the end of 2030 – all powered by Bitcoin (and other cryptocurrencies).
To help contribute toward this noble cause, Satoshibles NFT, one of the most successful NFT projects, has partnered with the Built With Bitcoin Foundation to launch the Built With NFT initiative. This limited-edition NFT collection aims to drive thousands, if not millions of dollars, towards humanitarian efforts. This NFT collection features artwork from students of BWB (Built With Bitcoin) campuses across the African continent, primarily from schools in Nigeria, Kenya, and Rwanda.
According to the BWB and Satoshibles team, 10,000 unique NFTs will be listed for sale, which will fund the Foundation’s efforts to build more schools and communities as the Foundation expands its efforts across Western and Central African regions.
In addition to the ongoing campaign, the Satoshibles team has also donated around 10 ETH to the Built With Bitcoin Foundation to kick-off Phase I of the project. This phase includes the construction of a water well, solar panel, and computer lab, alongside landscaping and fencing work at the two existing nursery and primary schools in Kaduna State (Nigeria) that serve a community of over 2,000 people.
Expanding The Data Storage Capabilities Of Boston IVF
Eggschain is an Austin-based healthcare technology firm that uses the Stacks blockchain infrastructure to provide a supply chain, inventory management, and custodian solution for the fertility sector. As the first patented cloud-based system that integrates blockchain and genetics, Eggschain delivers medical-grade information and data to IVF (in vitro fertilization) service providers and users in a secure, transparent, and globally trackable format.
It functions as a “custody management system,” securely storing data about IVF, blood, stem cells, DNA, organs, RNA, and tissues. It also allows clinics to track their inventory, whether it be personal, such as oocytes and sperm, or lab-related, such as maintenance schedules and inventory. On top of that, it reduces the time required in sperm selection operations by exploiting blockchain capabilities and provides end-to-end data protection for patients, which reduces misfiling and promotes transparency throughout the process.
By harnessing Bitcoin’s security, immutability, and transparency and Stack’s smart contracts functionality, scalability, and cost-efficiency, Eggschain has created a solution that is all set to bring a paradigm shift in the multi-billion dollar global fertility market.
To that extent, Eggschain had recently announced a partnership with Boston IVF, one of the most-renowned fertility clinics globally. As part of this partnership, Eggschain will help Boston IVF’s chain of 30 fertility clinics across the US with the required blockchain infrastructure to track cryogenically-preserved sperm for IVF and other fertility and non-fertility treatments. In addition, Eggschain will also help Boston IVF with the long-term storage of genetic data.
The integration of blockchain technology in Boston IVF’s operations will drastically improve the user experience and customer satisfaction by delivering unparalleled security, immutability, and transparency.