Journal Entry: Stamatina Bourret-03/15/2024-Digital Economy Course-Lesson 14

Journal Entry

Lesson 14

1. Chain Links ability to bring real worked data into blockchain revolutionize smart contracts applicability in social programs like ReFi because the real world data allows for the smart contracts to play a significant role in the revitalization of social programs. It is able to identify strengths and therefore the individual is able to build on the positives they achieve.

2. The way decentralized oracles contribute to creating a more equitable and accessible financial system for formerly incarcerated individuals is it allows for no distinction in the individual. They are strictly going by who receives incentives for the work they completed. Thus opening doors for incarcerated individuals.

3. The potential impacts of a platform like ReFi on reducing recidivism rates and supporting societal reintegration is pretty significant. An individual has a checklist they need to complete then the platform can score those areas thus ensuring things like FSA is received, GTC is received and that it is done accurately and time efficient. It is extremely important that the technological innovations of these efforts continue. This could be a ground breaking initiative for incarcerated individuals providing reason to complete goals and thus assisting in achieving theses goals once released.