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Rising adoption of DAO and NFT for just causes is a positive indicator: Raj Chowdhury

Blockchain, like every other technological innovation in history, was designed to improve the quality of life. Decentralization and peer-to-peer networking foster a spirit of collaboration and commitment to changing things for the better.

Raj Chowdhury, blockchain pioneer and founder of HashCash Consultants, foresees increased use of blockchain-based digital transformations for humanitarian, philanthropic and social purposes. Throughout 2021, decentralization has been key to the growth of DAOs, NFTs, the Metaverse, and the future Web 3.0.

Decentralized Autonomous Organizations, or DAOs, take full advantage of the lack of hierarchy by operating on coded smart contracts. Notable global examples involving the use of digital tokens and crowdfunding to make social and economic contributions include streaming projects, independent platforms, charities, and many more. A recent DAO project raised more than $40 million to acquire an early copy of the US Constitution at auction, despite being outbid by a private collector.

Chowdhury has a positive outlook on current market trends and the upcoming future. “Blockchain, like every other technological innovation in history, was designed to improve the quality of life. Decentralization and peer-to-peer networking foster a spirit of collaboration and commitment to changing things for the better,” he says in reference to the growing adoption of blockchain applications for non-profit purposes.

A global consciousness to make the world a better place brings together collectors and crypto enthusiasts. Projects have been launched to help fund cancer research, save the environment and fight poverty. Organizations like UNICEF and the American Red Cross accept donations of crypto assets.

“The growth of technological progress as well as the losses associated with the pandemic direct a collective force towards the social and economic betterment of people

Worldwide,” Chowdhury said.

American HashCash consultants led by Chowdhury have been involved in medicine and space research. Over the years, the company has been actively involved in projects boosting financial inclusion, low-cost remittances and COVID-19 vaccine distribution, as well as child labor prevention and business support/ African nonprofits with blockchain funding channels.

Blockchain innovations such as DAOs, Metaverse, and NFTs, touted as the next global game changers, already hold great promise for social, environmental, and financial betterment. The future can expect more philanthropic efforts and collaborations through charitable blockchain projects.

Raj Chowdhury is the Managing Director of HashCash Consultants and a Blockchain pioneer. Raj pioneered the first interbank implementation of blockchain technology trade finance and remittance transfers between two of the world’s largest banks. Raj is a prominent voice in the Blockchain and Cryptocurrency space and actively engages with policy makers in this area. He is a contributor to Economic Times, Business World, CNNMoney and advises industry leaders on Blockchain adoption. Raj had been a research associate at MIT’s Microsystems Technology Lab. He is a member of Asha Silicon Valley, a non-profit association committed to the education of children in emerging countries. Author of the book “The Dark Secret of the Silicon Valley”, Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.

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Rodney N.

The author Rodney N.