Airbus A3 Heritage Blockchain Crypto Donation Platform Launches for Charities
Leading aircraft manufacturer Airbus has joined the blockchain space by introducing a donation platform powered by the disruptive technology.
Through its research and development subsidiary, known as Airbus A3, the company developed the Heritage platform with the objective of enabling charities to improve the efficiency of operations by tracking donations effectively.
The Heritage platform is based on the Ethereum blockchain. As expected, the platform will eliminate intermediaries, thereby reducing recurrent expenses and enhancing transparency of operations. Besides, this solution also enables charities to receive funds directly to their cryptocurrency digital wallet. From here, the funds can be easily exchanged into fiat money to cover daily operational costs.
The site further added that the Airbus Foundation, the company’s charitable arm, will integrate Heritage to its fundraising platform as a tribute of its existence for a decade.
The Heritage platform’s announcement coincided with the 10th anniversary of the Airbus Foundation in August. During the event, the organization discussed their most notable endeavors, including their contributions to the aviation industry. In this regard, the foundation noted that their humanitarian program has deployed 66 airplanes that have transported over 860 tons of essential aid and medicines.
Also, the nonprofit has successfully conducted over 20 emergency mission using their helicopters, with over 700 individuals receiving training on how to conduct rescue missions using helicopters.
In addition, the foundation revealed that their accomplishments have made it possible to integrate the Heritage platform into their operations. To this end, the Heritage platform will enable the Airbus Foundation to efficiently manage donations through its inbuilt DApp. On its part, the Airbus Foundation has pledged to open-source the blockchain portion of their work.
In the near future, the Heritage platform intends to introduce an exchange platform that enables charities to seamlessly convert digital currencies into fiat money. Also, the platform is partnering with Maker to create a stablecoin called Dai.
The Rising Popularity of Crypto Donations
Currently, there are several philanthropic organizations that accept donations made in the form of virtual currencies. Among these is Fidelity Charitable, a subsidiary of Fidelity Investments, who have been accepting crypto donations for the past three years. In 2017, the volume of cryptocurrency donations increased ten-fold, indicating that more donors now favor this method.
Last year, Fidelity Charitable received a whopping $69 million in crypto donations. Expectedly, this amount surprised most of the company’s officials. Concerning this, Fidelity Charitable’s CEO said that Bitcoin had made many investors wealthy, inspiring them to become philanthropists. As a result, they found it easy to make donations in virtual currencies.
Although it is currently on the rise, cryptocurrency donation to charities are far from being mainstream. However, the introduction of platforms such as Heritage is expected to increase the popularity of this method.