With the growing acceptance of cryptocurrency into the world, and with the ingenious integration of blockchain into most of our daily affairs, would it be considered beneficial if the said technology could be incorporated into the affairs and processes of the holy Catholic Church?
A good number of devout Catholics respond with a resounding “Amen.”
There exists a group called the Catholic Blockchain, composed of professing Catholics who believe that “blockchain technology is one of the most important innovations of the last ten years, and the Catholic Church, as the world’s largest global organization, is uniquely placed to benefit from using it,” said Brantly Millegan, one of the organization’s co-founders.
The organization sees five ways in which the Catholic Church could benefit from blockchain. One is that the technology could very well provide financial inclusivity for the unbanked population.
Another benefit is the use of virtual currencies, which the Church could utilize for facilitating faster international payments. Additionally, the Church could sell unused land to investors through the use of smart contracts.
The fourth feature of blockchain would be its capacity to store vast amounts of data. This would be very helpful in significantly reducing the time spend in archiving important data which are otherwise tedious in nature like storing marriage and baptism certificates, as well as other parish events.
Finally, blockchain could become a medium for the Church to keep a good eye on their priests who might otherwise steal from their parish’ treasury.
In conclusion, Millegan admitted that most of the “[Catholic] Church is still playing catch-up on old-news technologies like websites, smartphones, and social media.” He summons the need to perform “a better job of taking seriously new up-and-coming technologies before we’re already behind.”
And for Millegan, “blockchain technology should be near the top of the list.”