Introduction

Leveraging web3 to empower disenfranchised communities in emerging economies

Hola, my name’s Marcus and I am a researcher and entrepreneur from Guatemala. Located in Central America, Guatemala is a country rich in cultural heritage and stunning geographic landscapes. Unfortunately, however, our history is plagued with violence, corruption, and inequality, a reality that disproportionately affects rural indigenous communities.

We are a nation where more than half of the country’s wealth is held by just 0.001% of the population (talk about the 1%). Guatemala’s inequity is a key driver in systematically limiting the health and education of our poorer communities. In some regions of Guatemala, 7 out of 10 children are chronically malnourished and we have the lowest literacy rate in Central America.

To address these challenges, it is my belief that those who have the opportunity to shift the imbalanced scales of justice, have a moral obligation to do so. This is a position shared by many of our peers, who hold the conviction that nothing changes if nothing changes.

There is perhaps no greater accelerator of change than the rapid development and adoption of technology around the world. In particular, I am a firm believer in the potential for blockchain technology to instigate the systemic change necessary to unlock more just and prosperous societies for all.

Web3, which relies on decentralized peer-to-peer networks, has already begun to disrupt the arts, culture, governance, finance, and so many other frontiers of human coordination. One of the most disruptive use-cases of blockchain has been the development of decentralized finance (or DeFi), which enables peer-to-peer digital financial infrastructure. DeFi has the opportunity to revolutionize the way we think about financial inclusion and offer pathways out of poverty for millions of Guatemalans and people around the world.

As a Fellow at the Ethereum Foundation, I’m working to expand the practical use of cryptocurrency throughout emerging economies and support in onboarding the next billion people into the space. I am conducting a 6 month research project where I will be speaking with a diverse set of stakeholders ranging from last-mile communities through to some of the world’s most innovative web3 protocols and dApps.

Ultimately, I will be publishing an open-source report that will compile the findings over the course of the research and will provide suggestions towards what is fundamentally missing in the industry and what opportunities lie in addressing those gaps. The intention is that this research will provide an indication of the necessary “legos” that must be put in place as we continue to build infinite games that provide transparent, abundant, and equitable futures.

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