The non-profit Chinese Zhiyuan Hui – said to be the largest voluntary service platform in the world – has announced its partnership with EveriToken, a token management infrastructure company. The news was announced on January 12 in a post on the official EveriToken blog.
As of December 2018, Zhiyuan Hui would have served over 430,000 non-profit organizations and its 71 million users would have worked over 100 million hours of service through its platform. According to the blog post, the Evaluation Report of the economic value of the Chinese voluntary service issued by the United Nations evaluated the platform at over $ 500 million.
To handle this extraordinary volume of users and service hours, Zhiyuan Hui decided to build a transparent voluntary tracking platform on the EveriToken public blockchain.
Through the new system, governments, businesses and non-profit organizations will be able to allocate around one million volunteers a day with "Yi Coin" points in exchange for their volunteer work and hours of service.
Voluntary data will be recorded on a chain on what EveriToken calls an "open public ledger". The blog post continues to outline that:
"[T]The everiToken-based system provides audit trails for various stakeholders with access rights, including governments and financiers, eliminating the possibility of fraud for various poverty reduction projects and government foundation grants programs run by Zhiyuan Hui. "
It can be said that Yi Coins is already used to buy basic goods – such as food, electronics and hygiene products – from almost 100 unmanned sales points, using EveriToken's micropayment solution.
At the time of the press, Zhiyuan Hui did not respond to Cointelegraph's request to comment on the partnership.
As reported previously, the benefits of distributed and transparent registries are increasingly recognized in the public assistance and charity sectors globally. Last month, the Irish Red Cross teamed up to use the blockchain in a new app that enhances transparency for charitable donations. Also last month, the philanthropic arm of Binance launched its own blockchain-based donation platform.