Important Initiative Will Bring Blockchain Technology To The Catholic Church
Blockchain technology seems to be expanding all over the world. This time, it may be time for the Catholic Church to adopt this technology. A new group called Catholic Blockchain wants to implement blockchain in different areas of the religion.
Brantly Millegan, one of the co-founders of the Catholic Blockchain group, explained that distributed ledger technology is one of the most important innovations of the last ten years. According to Millegan, the world’s largest global organization may benefit from implementing it.
The platform that is being developed will have as a the main goal to encourage and help integrate blockchain tech into the different processes of the Catholic Church. At the same time, the intention is to provide financial inclusivity to those who are unbanked, mostly in developing countries.
The Catholic Church is working in different countries where populations lack access to financial institutions and using blockchain technology as a way to help these individuals have access to the financial world, is a very important step for the adoption of virtual currencies.
At the same time, distributed ledger technology could be used to process payments and facilitate transactions of one of the most known institutions in the world.
Additionally, the Catholic Church needs to register different administrative papers about Baptism, Marriage, birth and death certificates and other similar documents. Such an important entity with so big paperwork would be very benefited by implementing a blockchain system to control its bureaucratic data.
Moreover, it could be a good moment for the Catholic Church to catch-up on new technologies, including social media, smartphones and, this time, blockchain technology and virtual currencies.
Millegan explained about it:
“Much of the Church is still playing catch-up on old-news technologies like websites, smartphones, and social media. We need to do a better job of taking seriously new up-and-coming technologies before we’re already behind. And we believe blockchain technology should be near the top of the list.”
Some time ago, the Shacklewell Lane Mosque in Dalston, London, has decided to accept Bitcoin and other virtual currencies. The main purpose behind this decision was to increase the donor base and reduce fees for processing transactions.
This is an important way in which religious institutions are starting to implement blockchain technology and cryptocurrencies. If governments and enterprises are benefiting from them, other organizations can be part of the ecosystem.