Even though today there are a huge number of worthy charities, it is very difficult to trust 100% of any kind. The data available to you will not show where and how many of your donations have arrived in the right hands and are beneficial. Transparency in charity is a problem.
According to the level of corruption of many organs, the blockchain technology comes to the rescue.
In this article we will talk about distrust in the transfer of funds, the benefits of the blockchain for charity and the AidChain platform, how it works and what features it has.
To solve the problem of honesty and transparency of funds transfer to charity, a project was developed on the blockchain, which allows making donations through cryptocurrencies and tracking them.
AIDChain charity blockchain-platform
AidChain is a blockchain-based cryptocurrency fundraising platform designed to increase trust and transparency in the charitable sector.
The AidChain system aims to make the blockchain the focus in the charitable sector and create a more trusting relationship in it.
It is a platform that provides a service system through an easy-to-use interface that connects the non-profit community and charitable organizations, providing complete traceability of donations.
With the help of AIDChain, it is possible to instantly donate cryptocurrency to a charitable organization located anywhere in the world without the help of banks and other intermediaries.
AidCoin platform token
AidCoin is an ERC20 token that will serve as a transparent donation method through the Ethereum blockchain and access to the system of services provided by the AIDChain platform. The adoption of cryptocurrency plays a leading role in this new era of fundraising.
AidPay payment application
AidPay is a payment application in the form of a widget that allows charitable organizations registered on the AidChain platform to accept donations in various cryptocurrencies.
After listing your cryptocurrency, it is instantly converted to AidCoin. This makes it easy to manage all donations received in one wallet, while ensuring transparency and traceability.
Currently AIDPay processes 22 cryptocurrencies, the most popular of which are: Bitcoin, Ethereum, Litecoin, Dash, Dogecoin, ZCash.
AIDPay is ideal not only for charity organizations, but also for many users who would like to engage in charity through their own websites and applications.
The benefits of blockchain in the charity sector
Misunderstandings and misbehavior plague the nonprofit industry, forcing people to wonder if their donations really go to good deeds or end up in the pockets of members of the charity council. This epidemic has undermined public confidence, but the adoption of blockchain will fix it.
The obvious advantage of the blockchain technology is that it eliminates data theft or fraud. The blockchain is primarily intended to eliminate corruption and non-transparency in areas that are difficult to control due to the large number of participants.
Another serious argument in favor of blockchain donations is the ability of benefactors to track the life cycle of donations. In other words, whether a person donated $ 10 or $ 10,000 in cryptocurrency equivalent, he can track the flow of funds from the moment a donation is created until it reaches its destination.
Blockchain can completely change the principles of charitable platforms, allowing non-profit organizations not to waste energy on accounting, but to provide real assistance to those who need it and restore donor confidence in how their money is spent.
Editor: Yuliya Soroka