In an increasingly digitalized economy and society, the security and accountability of data transactions are critical elements for creating trust and enabling breakthrough innovations in the digital world. In this regard, blockchain technology could be a game-changer, with the potential to revolutionize processes from finance to pharmaceutical industries, from government public services to humanitarian work and development aid. However, the long-term impacts of this technology on economies, societies and environment are still not clear.
This paper paper published by the United Nations Conference on Trade and Development (UNCTAD) discusses the ecosystem of innovation related to blockchain technologies, and how blockchain could impact the Sustainable Development Goals (SDGs), focusing on how possible scenarios could play out and their effect on sustainable development. It also addresses the challenges that governments face and what they could do to influence the rate and direction of innovation and competence building in blockchain to contribute to their national development priorities.