Reuters: Large charities want to use block chains to reduce losses and track financial donations

nnnThe United States Start Network and the start-up company Disberse work together to test the block chain technology to reduce the loss of donations in bank charges, exchange rates, currency price fluctuations and other factors, to improve the efficiency of the use of funds and the use of resources, Rate, track the use of funds. At present, the British charity’s Positive Women has completed the Swaziland Student Education Project Donation Test through the Disberse platform, using the savings of the block chain to provide an additional one year for three students.n
nnTranslation: Annie_Xun
nDigital financial instruments “block chains” are used in the humanitarian sector to ensure that each sub-contribution is spent on the target project rather than being wasted in the process.n
nOxford, Oxford, Care International and Save the Children, the UK’s Start Network and the start-up company, Disberse, are using block-chain technology.n
n”This exciting collaboration will lead to changes in the way money flows in the humanitarian system,” said Sean Lowrie, director of Start Network.n
nn”It can catalyze new ways of working, transparent, quick, and responsible to taxpayers and those who are in crisis.”n
nnThe block chain is the beginning of the virtual currency bitcoil underlying system, which is the shared transaction record maintained by the computer network, without the need for centralization.n
nIt has become an important technology for public and private sectors because it can record and track assets or transactions and does not require intermediaries.n
nStart Network said the new Disberse platform will use block-chain technology to bank charges, exchange rates, currency fluctuations and other factors to minimize the waste of funds.n
nFraud is a major problem in the international aid system. Ban Ki-moon, the UN secretary-general, said 30% of United Nations development assistance losses were corrupt.n
nBecause block chains automatically record transactions on secure books, donors can easily track funds and reduce risk of abuse.n
nBritish charity Positive Women has used the Disberse platform to complete pilot projects to reduce remittance costs for Swaziland education programs.n
nDonations from the UK to the four Swaziland schools through local aid agencies, using the Disberse platform to save money to give Positive Woman an additional three-year student fee.n
nPositive Women Director Sarah Llewellyn said:n
nn”We generally use bank transfer, but now more and more expensive and inefficient.Using Disberse let us save 2.5% of the cost, you can subsidize three students a year of education costs.”n
nnThe next six months, the block chain technology application cooperation will be expanded to Start Network existing projects in a series of funds.n

Leave a Reply

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