In the last year Blockchain has received a lot of attention as the groundbreaking technology behind Bitcoin. At faizod, however, we see the far-reaching potential of Blockchain for many industries. Bitcoin was just the beginning. While most companies working with Blockchain have stayed within the realm of cryptocurrency, we are venturing beyond the obvious.
We are excited to introduce our new Blockchain application, Charity Chain. Philanthropic organizations have complex accounting structures and processes for raising money and implementing projects. These structures become even more complicated when the organization is operating on an international scale.
The vision behind the showcase
Charity Chain eliminates reasons for deciding against making charitable donations. Charitable organizations often encounter public mistrust because lack of transparency causes fear of the misappropriation of donation funds. Hence, Charity Chain is the provision for a transparent, comprehensible donation system.
The use of Blockchain technology makes each donation comprehensible and traceable. Furthermore, the system as a whole will be tamper-proof.
Case Example: Clean Water in Africa
According to World Health Organization figures in 2015, one in ten people in the world does not have access to clean drinking water. /1/
In our case example, a water pump can spring in to action with help from an app. The app is run on a mobile device (IOS or Android), and the user simple chooses the amount they would like to donate. This amount (using PayPal or cryptocurrency) will be transferred and the donation data will be securely saved in the Blockchain.
In the Blockchain the donations are deposited in to a kind of “main book.” After several donations are received, the credit balance rises in the “main book.”
Now someone would like to fill a five-liter bucket with water at a water pump in Africa, for example. The person presses on the pump, which asks internally how high the credit in the “main book” is. The system recognizes when there is enough credit for five liters of water. As a result, the water will flow immediately from the pump.
Log of donations