Charities use blockchain for cost savings – V3

Blockchain is being trialled to ensure that non-profit organisations are getting the best deal

A network of global charities has begun using blockchain to provide transparency to donations, ensuring that they are used appropriately.

Organisations including Oxfam, Save the Children and Christian Aid are three of the 42 members of the Start Network, which trialled the use of blockchain in humanitarian projects last year. The group has representatives on five continents, and will work on the project with start-up fund management platform Disberse.

Disberse uses blockchain, which records all transactions in a distributed digital ledger, to ensure that less money is lost on inefficient exchange rates, banking fees and currency fluctuations. It will also help charities to fight fraud (in 2012, then-UN Secretary General Ban Ki-moon said that 30 per cent of all UN development assistance was lost to corruption), by tracking all transactions.

More at: Charities use blockchain for cost savings – V3

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