Blockchain for Social Impact: Empowering Vulnerable Communities Against Climate Shocks in Nepal

Nepal ranks among the top 20 most multi-hazard-prone countries globally, with monsoon seasons causing significant damage to villages, livelihoods, and agricultural lands. Recognizing the need for immediate humanitarian aid, Rahat, a blockchain-based financial access platform, aims to empower vulnerable communities against the impact of climate shocks through its Anticipatory Action (AA) module. This module supports households in the flood-prone areas of Terai, Nepal, by providing early warning signs via interactive voice recordings (IVR) and cash support before the onset of floods. The platform leverages the power of mobile phones and blockchain technology with smart contracts for: a) building resilience through microinsurance with instant payouts, and b) anticipatory and immediate cash and voucher assistance. 

Alongside the Danish Red Cross Nepal, the innovative multi-signature AA trigger system will empower project stakeholders with real-time information for swift action, enhancing timely humanitarian responses and enabling beneficiaries to be better prepared for flood crises. Rahat leverages new technologies for social impact, ensuring that even the hardest-to-reach communities receive emergency relief.