While the spread of COVID-19 overshadowed the launch of the first digital strategy from the US Agency for International Development (USAID) in early April, the pandemic has also highlighted its significance by calling attention to the importance of access to digital technology and accelerating the global trend towards increased reliance on digital systems.
CGD Policy Blogs
Increased reliance on digital tools to monitor the spread of disease raises serious questions about how to prevent governments from using those same tools to track individuals for other purposes after a health crisis has subsided.
The “more and better data” movement is based on the premise that well-intentioned governments can better serve the poor and vulnerable if they have basic information about them. Until recently, this notion would have seemed uncontroversial. But growing concern about the risks created by the misuse of data—particularly personal data—has led to a shift in attitudes in the development community.
For all its faults, Facebook does not lack ambition. The company’s announcement last week that it, along with other members of the newly-formed Libra Association, intends to create a new global digital currency is big news for global finance and the future of money.
In many developing countries health supply chains function poorly, resulting in frequent stockouts and many substandard and even falsified medications—which undermine treatment effectiveness and raise the risk of antimicrobial resistance.
In our recent paper published by GSMA, we examined two approaches to conducting customer identification, verification, and due diligence (collectively referred to as “know your customer” or KYC) that make it easier for financial service providers to take on new customers: tiered KYC and electronic KYC (e-KYC). Of the two, e-KYC is the more promising long-term approach, but also the more challenging to implement.
Developing countries are seeking more control over their citizens’ data—leading them to policies that put the open nature of the Internet at risk, says a new CGD paper.
How Illicit Finance Controls Can Make It Harder for Nonprofits to Serve the World’s Neediest —and What to Do about It
A growing number of humanitarian aid organizations operating in conflict zones are having trouble finding banks willing to work with them. We attended an international stakeholder dialogue on ensuring financial services for nonprofit organizations, and offer our preliminary thoughts here.
One of the bubblier aspects of the recent enthusiasm for all things blockchain has been the rise in popularity of initial coin offerings (ICOs), also known as token sales. By design, the acronym calls to mind the more traditional fundraising model of initial public offerings (IPOs), in which companies sell equity stakes to investors. With ICOs however, companies use blockchain technology to issue digital assets (usually referred to as tokens or coins) to investors rather than equity stakes. Another key difference—at least for the time being—is that ICOs are virtually unregulated. In fact, many of the advantages ICOs have over more traditional fundraising platforms derive from their unregulated status.
As the price of bitcoin continues its dizzying rise—the currency briefly surpassed $19,000 yesterday—the already passionate debate about its role in the global economy has become even more heated. Over the last two months, prominent economists and financiers, including Citi CEO Jamie Dimon, former IMF Chief Economist Kenneth Rogoff, and former Chair of the US Federal Reserve Ben Bernanke have all voiced skepticism about the currency, triggering a loud response from the crypto community.