Famous Charities Explore Block Chain Applications

nnnPost-Walking Comment: The start network of 42 well-known charities has established a partnership with start-up company Disberse to track the flow of funds using block chains to reduce capital losses and reduce the risk of capital abuse in a transparent and rapid manner To maximize the role, so that taxpayers and recipients are responsible.n
nnTranslated by: Inan
nThe humanitarian sector is seeking to use the digital banking tool “block chain”, hoping to ensure that all the funding is in place and will not be wasted.n
nThe UK’s Start Network brings together 42 well-known charities, such as Oxfam, Care Inter national and Save the Children, and has started working with social enterprise startups, Disberse. chain.n
n”This exciting relationship may be a transformation of the way money flows in the humanitarian system,” said Sean Lowrie, director of Start Network.n
nn”This can lead to the emergence of a new way of working that is transparent and efficient and responsible to taxpayers and recipients.”n
nnThe block chain first appears as a system that supports virtual currency bitcoin, which is a shared digital transaction record maintained by a computer network on the Internet, without the need for centralized organizations.n
nBlock chains have become key technologies in the public and private sectors because they can record and track assets or transactions without the need for intermediaries.n
nStart Network said the new Disberse platform will use block-chain technology to ensure that the loss of funds due to bank charges, low exchange rates and currency prices fluctuates.n
nIn international aid systems, fraud is also a serious problem.n
nIn 2012, UN Secretary-General Ban Ki-moon said that 30% of United Nations development assistance was swallowed up by corruption.n
nBecause block chains can automatically record transactions on secure books, donors can easily track funds and reduce the risk of capital abuse.n
nA British charity called “Positive Women” has completed a pilot project that uses the Disberse platform to reduce transfer costs to finance its education program in Swaziland.n
nThe aid will be provided by the local aid group from the UK to the four Swaziland schools, through the use of Disberse platform to save money so that Positive Women can subsidize three students in full year tuition.n
nSarah Llewellyn, director of Positive Women, said: “We usually use bank transfer, but the transfer fee is getting higher and higher, the speed is getting slower and slower.n
nn”With Disberse, we saved a fee of 2.5%, which was able to pay three girls a year for education.”n
nnOver the next six months, this new collaboration using block-chain technology will handle a series of small expenses for existing projects in the Start Network.n

Leave a Reply

Your email address will not be published. Required fields are marked *