A-Cubed Unveils Blockchain Project to Trace Crypto Donations for Charity and Non-profit Organizations
A-Cubed Unveils Decentralized Ledger Technology Project to Trace Virtual Asset Donations for Charity and Non-Profit Organizations
The Airbus’ Silicon Valley station, A-Cubed has commenced an open-source, which is a public decentralized ledger technology project, is meant to nurture a maintainable bionetwork for charity and non-profit firms which are using virtual assets and smart agreements for societal purposes.
According to a report released by ZDNet on September 18th, 2018, the philanthropic arm of Airbus Silicon Valley, also known as Airbus Foundation, which has its head office in France, is the pioneer firm to use Ethereum run blockchain platform. The stand was built by Heritage.
Blockchain for Charity
There are several firms which could take advantage of blockchain and gain from it, however, they have been denied access to the fact that there are inadequate skills in that area. In this regard, Heritage desires to grant these firms access to a new type of donors.
Remarkably, fundraisings and contributions are in essence the initial use case scenarios for the blockchain-powered platform known as Heritage. Among the firms which participated in the pilot program initiated by A-Cubed include Museum of Art, Design, and Entertainment, animal welfare firm, HartSong Ranch Animal Sanctuary, as well as the Airbus Foundation. During the pilot, an in-house trial of the contribution platform was carried out.
Running Operations With UNICEF for The Advancement of Decentralized Ledger Technology
UNICEF intends to institute a benchmark for other not-for-profit organizations in time to come, who may pick interest in the innovative blockchain application. The firm asserted that one of the key reasons why they released the project as an open source was to be an encouragement to its community set and make donations to criterions in the developing world of the DLT.
According to the firm, charity organizations are usually challenged with limitations by inadequate resources, which eventually affect the good that they intend to achieve. In as much as there are great potentials for them to gain from the innovative blockchain technology, they are however often disregarded.
In this regard, Heritage comes in to bridge their adoption gaps by connecting the charity organizations with the virtual asset donors in order to achieve their objectives in innovative ways.
The information regarding donations will be enumerated as an ERC-721 virtual asset, which is possessed by the person or entity that is making the donations on the Heritage blockchain. Once contributions have been made, the transactions through Heritage will be logged together with the donor’s Ethereum address as well as the amount contributed.