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Airbus's research and development arm, A3, has launched a blockchain donation platform, called Heritage, which allows charitable organizations to better track and understand their fundraising efforts and operational efficiency.
The new Heritage platform will be based on the Ethereum blockchain and will provide a solid and in-depth structure that allows charitable organizations to accept and track donations, remove the intermediary and reduce waste and fraud by tracking every dollar donated to charity.
Donations will be sent directly to a cryptocurrency portfolio, owned and controlled by the charity or foundation, and funds can easily be converted into fiat currency to pay for daily operating costs.
Airbus describes the new blockchain-based platform on their website, saying: [19659005] "Consists of a collection of smart contracts Ethereum, a JavaScript library Web3 and a tool for developers, and a decentralized application (dApp ) for the management and interaction with the donation and chain donation block The Airbus charitable branch, the Airbus Foundation, will integrate Heritage with an internal fundraising platform to commemorate the tenth anniversary of the foundation. "[19659005] The product was announced when the Airbus Foundation celebrated its tenth anniversary last month. During the celebratory event, the foundation discussed their recent achievements, noting their role in multiple aviation-related charitable acts. Airbus noted that:
"Coordinates 66 flights to transport over 864 tons of essential aid and medical and humanitarian personnel and financed 418 hours of helicopter in over 20 emergency missions, and more than 700 people have been trained for missions emergency helicopter rescue service. "
The foundation also notes that, as a result of their successes, they would implement the Heritage platform in their own foundations, saying:
" Heritage will provide the Airbus Foundation with a decentralized application for accept and manage donations for themselves and their charitable partners from the Ethereum blockchain cryptocurrencies.And in the spirit of the Airbus Foundation's commitment to bring people and products together to inspire the next generation, we will open the blockchain part of our work . "
The Heritage team is also working with other projects to provide a seamless bidamp for charity to convert their cryptocurrency into fiat and transfer that authorization to their bank account. A3 is currently working with Maker to incorporate a stable currency to the cryptocurrency – called Dai – into the platform.
Blockchain and Cryptocurrency Popular Donation Method
The Heritage project comes when many companies and charitable foundations are beginning to accept cryptocurrencies as donations, including Fidelity Charitable, the founding of Fidelity Investments, which began accepting cryptocurrency donations in 2015. Last year, however, the foundation recorded a significant increase in crypto donations, increasing by 10 times compared to previous years.
In 2017, Fidelity Charitable received $ 69 million in cryptocurrency donations, which was a big surprise for the company. In a recent event, Fidelity's CEO spoke of the increase in Bitcoin and crypto donations, saying it was "a surprising success" and added:
"It worked because there were so many people, recently incredibly wealthy through Bitcoin, who were trying to become philanthropists.we made it very easy for them. "
Platforms like Heritage will only increase the popularity of charitable organizations that accept cryptocurrencies as donations.
Featured image of Shutterstock.
