According to a post on the official EveriToken blog, the company is now in an official partnership with the Chinese non-profit organization, Zhiyuan Hui.
Currently the largest voluntary service platform in the world, Zhiyuan Hui has found a new way to allocate payments using EveriToken's token economy infrastructure framework.
At the end of 2018, Zhiyuan Hui was known to assist over 430,000 different non-profit organizations and has about 71 million users on the platform. It has also been reported that users have logged in at least 100 million hours of service through the platform.
Zhiyuan Hui has been valued at $ 500 million from the report on the measurement of the economic value of the Chinese voluntary service published by the United Nations.
Due to the high number of non-profit organizations of the company, millions of users and impressive number of hours of service, Zhiyuan Hui has created a transparent tracking platform using the EveriToken public blockchain.
How does it work
The system will enable non-profit organizations, businesses and even governments to pay around one million volunteers every day with "Yi Coin" points.
This, as explained, would be in remuneration for their service hours and volunteer work. According to the EveriToken blog post,
"[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. "
EveriToken describes the system as an "open public ledger".
Volunteers can already use their coins to buy some things in about 100 specific locations and without personnel. Yi coins can be used to buy food, electronic products and toilets, among others.
Use of Blockchain books
There is already a growing interest from different sectors to make use of transparent registers. The Irish Red Cross, last month, started using blockchain in a new app for the transparency of charitable donations.
Crypto Binance trading platform, has also launched its own blockchain-powered donation platform.