Tech Crunch | April 14, 2018

How Blockchain Technology Is Helping Austin’s Homeless Population

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Homeless populations in the United States often lack access to their own financial and medical records, which can oftentimes keep them at arm’s length from the programs that would help them the most. Using blockchain technology, the city of Austin is addressing this problem.

One of the barriers in getting homeless Americans back on their feet is their lack of identity records. Without such records, financial progress can be entirely wiped out at the drop of a hat, locking homeless individuals in an endless feedback loop of instability while preventing them from getting the aid they need. The city of Austin, Texas, is addressing this problem by creating a blockchain-based identity platform to create reliable, secure identity records.

According to Tech Crunch:

Element, a New York City-based startup co-founded by famed deep learning researcher Yann LeCun, hopes to provide decentralized identity to people in developing countries like Indonesia and the Philippines. Austin is exploring partnering with decentralized startups like BanQu to implement the details of the service for the city.

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