As new use cases of blockchain are being explored, Diginex, a full service provider for Distributed Ledger Technology, recently signed a Memorandum of Understanding (MOU) with antislavery business association The Mekong Club. Together, the two entities will create a blockchain that would prevent the exploitation of workers.
Eradicating Modern Slavery
The Mekong Club is a 32-member organization. The business association has trained over 8,000 entities and delivered 15 innovative tools that can help in making businesses slavery-free. Its tools include smartphone apps, interactive maps and a multilanguage e-learning solution. With Diginex, it intends to create a blockchain designed for the private sector that will help in identifying and eradicating forced labor from the supply chains.
Currently, an estimated 40 million people are serving as “modern slaves,” who work in debilitating working conditions for little to negligible pay. Of these, over half are a part of forced labor situations in very unsafe working conditions.
Diginex and The Mekong Club will work with the association’s partner organizations on a pilot project that will use migration data to track worker migration and the associated costs. All documentation and contracts are to be stored on the ledger, ensuring that the original unaltered versions are always available.
Dreaming of a Better Future Together
Matt Friedman, CEO of The Mekong Club, suggests that employment contracts are changed as workers migrate from one place to another, and they are charged extortionate fees for accommodation, recruitment and transportation. Consequently, workers are left with nothing as they owe their employer more than what they earn.
Speaking on their goal, head of government projects at Diginex Mark Blick said:
“We know blockchain has the potential to transform the lives of migrant workers and we are honoured to be part of this project. The Mekong Club is a well respected and trusted organisation that works hand in hand with the business community. We see this MOU as the beginning of a long relationship with The Mekong Club and a firm commitment by Diginex to support the eradication of modern slavery.”
Company chief innovation officer Jose Perez noted that using blockchains will help in protecting migrant workers by reducing the number of opaque and expensive intermediaries.
Diginex, The Mekong Club to Create Blockchain Solution That Prevents ‘Modern Slavery’ was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.