[ad_1]
A Dublin-based startup has partnered with the Irish Red Cross to use blockchain technology in a new app that enhances transparency for charitable donations. The partnership was reported by the local newspaper The Irish Times on December 19th.
The startup, dubbed AID: Tech, is collaborating with the Red Cross for the use of its consumer-oriented mobile app "TraceDonate", which is designed so that donors know exactly how their contributions are spent to cause charitable.
By improving transparency around the distribution of charity, the app aims to strengthen trust and engagement in social causes. It allows retail or institutional users to donate peer-to-peer to a single beneficiary, an NGO or specific charitable appeals.
Through the shared ledger, AID: Tech partners – including governments, NGOs and development agencies, as well as donors – can monitor transactions in real time, view their contribution stories and stay informed about campaigns live charity.
Liam O & # 39; Dwyer, secretary general of the Irish Red Cross, told The Irish Times that the partnership with AID: Tech offers the organization the opportunity to "further promote transparency in the [charity] sector "and to act as a" point of reference for the donation process ".
In view of the development of its mobile app, AID: Tech has distributed blockchain to provide international aid to Syrian refugees in northern Lebanon as early as 2015. It has also developed a blockchain-based application, "Transparency Engine", which integrates Digital identity solution with blockchain technology for a wider range of rights, including well-being, remittances, donations and healthcare.
According to The Irish Times, the startup has raised a $ 1 million ($ 1.1 million) investment this year, which included the support of Enterprise Ireland, an Irish state economic development agency, and SGInnovate, the venture capital arm of the Singapore development authority. . Investments represented the first capital injection in the blockchain sector by both state entities.
As previously reported, the potential of the blockchain to support a fairer and more equitable distribution of aid has been recognized by the world's leading organizations, including the UN, which have used the Ethereum (ETH) network to distribute aid to Syrian refugees in 2017.
Just this week, the most important crypt exchanges the philanthropic arm of Binance, the Binance Charity Foundation (BCF) has opened a new fundraising channel on its blockchain-powered donation platform.
[ad_2]Source link
