Blockchain and bitcoin as a way to lift a country out of poverty - tourism 2.0 and e-governance in the Republic of Moldova

Abstract

In this article, we explore the formidable yet untapped capabilities of Blockchain technology and Bitcoin in order to alleviate poverty. We focus on the Republic of Moldova, which has been plagued by endemic corruption and persistently high poverty levels since her independence in 1991 following the collapse of the Soviet Union. The transformative power of Blockchain technology and Bitcoin are then evidenced through a dual analysis of tourism 2.0 (with a real-world case study) and e-governance, which can contribute to increased inward capital investment flows, and help fight off corruption practices. Finally, we conclude that these new technologies constitute a significant step in the right direction, in order to break away from twenty-five years of disappointing socio-economic development performance.