How Technology is Fighting Global Poverty

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Global poverty is a growing issue, especially in the midst of the current cost of living crisis. As a result, various measures are being introduced on a global scale in order to fight the widespread poverty issue. Some of these measures fall under the umbrella of technology, and they improve the ability to make a positive impact on global poverty. Listed below are just some of the ways in which technology plays a role in fighting poverty on a global scale. 

Mobile Phone Technology Facilitates People in Entering the Market

Firstly, mobile phones are now commonplace, even in some of the most disadvantaged countries across the globe. Therefore, small business owners are able to increase their earnings via the use of mobile phone technology. This is because mobile technology connects them to a broader market, equips them with better business tools, and provides them with quick access to important information. 

Consequently, small business owners in developing countries with mobile phones will be able to reach out to other small business owners in the area. In doing so, it will be easier to make transactions and share advice and guidance in order to improve the quality of their service. 

Meanwhile, modern applications can provide small business owners with the necessary market pricing information. This will mean that these individuals won’t be forced to price their products below the market value, resulting in fairer earnings.

Blockchain Technology Provides Benefits

Blockchain is a system of recording information in a way that makes it virtually impossible to cheat, hack, or change a system. Developing countries can sometimes be considered low-trust environments, meaning that business owners need to be as careful as possible when it comes to protecting their online transactions. Blockchain makes this protection much more easily achieved. 

E-Learning Platforms Help Small Business Owners 

The problem for small business owners in developing countries is that many of them find the growth of their business becomes stunted at a certain point. This is because they’re often not given the means to grow and develop in a professional capacity. Despite this, technology has made this means of growth much more accessible via the development of e-learning platforms. These platforms were made much more popular during the COVID-19 pandemic, as more and more businesses found themselves struggling to function when the natural order of the world had been disrupted. Since then, e-learning platforms for business have continued to thrive and help small business owners in developing countries. 

Technology Solves More than Just Poverty 

The extensive ways in which technology can be applied means that it can solve much more than poverty. In fact, the growing prominence of technology can set solid targets in increasing inclusivity, develop local ecosystems, and create technology that is suited to the end user. Too often, technology is developed to help those in need; however, the needs of these individuals aren’t considered in the design phase. As a result, we’re left with technologies that sound good in theory but don’t pan out in practice when it comes to bringing us closer to a better existence. 

Drones and Satellites Offer Essential Information

Last but not least, the economy in developing countries is predominantly built from farms, and these farms can provide us with essential information. In order to obtain this information, drones and satellites can be used that inform farmers of what they need to do to optimise their growth. As a result, their yield and incomes will also be improved. Today, drones and satellites are commonplace in farming and they make the entire practice much easier to manage.