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Built on the blockchainShutterstock
Blockchain is a secure and shared public record of documents and transactions held collectively by users. It is built to withstand censorship and tampering from any particular entity and is completely open to the world to be seen – no matter how you try to cloud it, every transaction can be traced back to the original sender and receiver. This particular feature arouses interest in the minds of many, especially those who consider it the ultimate solution to a centuries-old problem: inefficient and corrupt charitable distribution.
How much is a problem?
Charitable organizations can become targets for massive scandals, more often than you think. For example, following the tragic 2010 earthquake in Haiti, more than $ 500 million dollars were donated by people in the United States to the American Red Cross – a colossal sum of money that would have been instrumental in helping the island nation to recover feet, if not more. Instead, much of the money ended up never reaching the affected Haitians, as discovered NPR exploring the locations where large housing projects have presumably been implemented.
And this is precisely what was painfully obvious: a building is there or it is not. For the rest of the funds, which have officially entered into things like immediate relief, food, drinking water and other useful initiatives, we simply do not know how they were used. While some of these have surely reached the expected people, from how the housing project went, it is difficult and questionable that they provided the expected relief.
There are also cases of fraud. Several cancer charity associations in the United States, which received a total of $ 187 million in donations, they have been closed following federal lawsuits that accuse them of using only 3% of funds on real charity initiatives.
Moreover, even if the same charitable organizations could be legitimate, they continue to encounter problems with local realities, where warlords, central governments and the other interested parties are all competing to steal as much help as possible.
How can Blockchain help?
The main problem is the lack of information and responsibility: donors are simply unaware of how their funds will be used, exactly. As a result, there is little pressure on charitable organizations to be executed, since money will still be obtained. Enter Blockchain, the technology that allows most processes to become radically transparent: money transfers, supply chains, data, your name.
Cryptocurrencies can circumvent the restrictions imposed on currencies and banking transactions in conflict zones where sanctions are applied and the use of international currency is limited, as evidenced by the CAF. In addition, money intended to help the desperate people reach the front line.
The aim of tackling "endemic" corruption, for example in developing countries, has been identified by the think tank Charity Futures. Better traceability of funding can only increase confidence in the sector. However, a report Asheem Singh warns that withdrawing the intermediary in this area means "charity without charity", saying that there is a need for funding collected through the Blockchain to be used "for truly humanitarian purposes", with organizations that are responsible for a clear charity purpose. In fact, some companies are already using Blockchain to address today's problems with charity delivery.
Pineapple Fund, a philanthropic fund, has donated and sterilized 41 million Bitcoins donated to charitable organizations, including those that provide clean water and protection rights, donations that underlines can be verified. San Mungo, a charity that tackles homelessness in the UK, has begun to experience the potential to attract more donations by allowing donors to track where donations have been spent. Taking a further step forward, GiveDirectly is challenging the development model driven by NGOs by giving people the opportunity to transfer funds directly to individuals and families in developing countries.
BitNation has chosen to use Blockchain to provide people's IDs, one of the main problems in the areas hit by the crisis. Initially launched to help refugees overcome the problem of lack of documentation, the start has now been extended. Now tens of thousands use the Blockchain ID service and the notary public to improve their situations.
The Disberse platform, meanwhile, is a Blockchain startup that allows donors to track donations – reflecting the interest in this area by UN agencies such as the World Food Program.
Humaniq instead chose to do everything in one solution, developing a platform to connect the 2 billion people not assigned to the global economy. One of its most impactful products is Humaniq for Good, which builds bridges between global charities and local nonprofit organizations. Humaniq for Good offers an efficient and transparent philanthropic aid transfer solution that enables charitable organizations, philanthropic organizations, non-profit organizations and individual donors to make a lasting impact in Africa. Leveraging its established network of Ambassadors, Humaniq is able to assist any organization wishing to donate to philanthropic causes in Africa, from fundraising to distribution to local organizations and direct delivery to people in need of aid.
In the coming years, we will most likely witness the development of Blockchain-based charitable organizations, which will revolutionize the whole process, improving the functioning of charitable distribution, improving infrastructure and ultimately saving and improving life. We can only wish good luck to companies that challenge these untested waters.
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Built on the blockchainShutterstock
Blockchain is a secure and shared public record of documents and transactions held collectively by users. It is built to withstand censorship and tampering from any particular entity and is completely open to the world to be seen – no matter how you try to cloud it, every transaction can be traced back to the original sender and receiver. This particular feature arouses interest in the minds of many, especially those who consider it the ultimate solution to a centuries-old problem: inefficient and corrupt charitable distribution.
How much is a problem?
Charitable organizations can become targets for massive scandals, more often than you think. For example, following the tragic 2010 earthquake in Haiti, more than $ 500 million dollars were donated by people in the United States to the American Red Cross – a colossal sum of money that would have been instrumental in helping the island nation to recover feet, if not more. Instead, much of the money ended up never reaching the affected Haitians, as discovered NPR exploring the locations where large housing projects have presumably been implemented.
And this is precisely what was painfully obvious: a building is there or it is not. For the rest of the funds, which have officially entered into things like immediate relief, food, drinking water and other useful initiatives, we simply do not know how they were used. While some of these have surely reached the expected people, from how the housing project went, it is difficult and questionable that they provided the expected relief.
There are also cases of fraud. Several cancer charity associations in the United States, which received a total of $ 187 million in donations, they have been closed following federal lawsuits that accuse them of using only 3% of funds on real charity initiatives.
Moreover, even if the same charitable organizations could be legitimate, they continue to encounter problems with local realities, where warlords, central governments and the other interested parties are all competing to steal as much help as possible.
How can Blockchain help?
The main problem is the lack of information and responsibility: donors are simply unaware of how their funds will be used, exactly. As a result, there is little pressure on charitable organizations to be executed, since money will still be obtained. Enter Blockchain, the technology that allows most processes to become radically transparent: money transfers, supply chains, data, your name.
Cryptocurrencies can circumvent the restrictions imposed on currencies and banking transactions in conflict zones where sanctions are applied and the use of international currency is limited, as evidenced by the CAF. In addition, money intended to help the desperate people reach the front line.
The aim of tackling "endemic" corruption, for example in developing countries, has been identified by the think tank Charity Futures. Better traceability of funding can only increase confidence in the sector. However, a report Asheem Singh warns that withdrawing the intermediary in this area means "charity without charity", saying that there is a need for funding collected through the Blockchain to be used "for truly humanitarian purposes", with organizations that are responsible for a clear charity purpose. In fact, some companies are already using Blockchain to address today's problems with charity delivery.
The Pineapple Fund, a philanthropic fund, has donated 41 million Bitcoins donated to charitable organizations, including those that provide clean water and protect rights, and the donations it underscores can be verified. San Mungo, a charity that tackles homelessness in the UK, has begun to experience the potential to attract more donations by allowing donors to track where donations have been spent. Taking a further step forward, GiveDirectly is challenging the development model driven by NGOs by giving people the opportunity to transfer funds directly to individuals and families in developing countries.
BitNation has chosen to use Blockchain to provide people's IDs, one of the main problems in the areas hit by the crisis. Initially launched to help refugees overcome the problem of lack of documentation, the start has now been extended. Now tens of thousands use the Blockchain ID service and the notary public to improve their situations.
The Disberse platform, meanwhile, is a Blockchain startup that allows donors to track donations – reflecting the interest in this area by UN agencies such as the World Food Program.
Humaniq instead chose to do everything in one solution, developing a platform to connect the 2 billion people not assigned to the global economy. One of its most impactful products is Humaniq for Good, which builds bridges between global charities and local nonprofit organizations. Humaniq for Good offers an efficient and transparent philanthropic aid transfer solution that enables charitable organizations, philanthropic organizations, non-profit organizations and individual donors to make a lasting impact in Africa. Leveraging its established network of Ambassadors, Humaniq is able to assist any organization wishing to donate to philanthropic causes in Africa, from fundraising to distribution to local organizations and direct delivery to people in need of aid.
In the coming years, we will most likely witness the development of Blockchain-based charitable organizations, which will revolutionize the whole process, improving the functioning of charitable distribution, improving infrastructure and ultimately saving and improving life. We can only wish good luck to companies that challenge these untested waters.
