This is an association of credible charity foundations that utilize blockchain technology for accounting purposes. The binding factor for this association is the transparency that member groups observe in the entirety of their transactions.
Hence, the Charity Blockchain Association is a subsidiary of One + 1 philanthropy platform inaugurated by Mikhail Paley.
The Charity Blockchain Association Mission
Among the most pleasant qualities of human beings is the inborn need to help the impoverished. However, this intrinsic behavior is often discouraged by deceitful NGOs masquerading as charitable organizations while their intention is to fleece willing donors.
While several means have been employed to counter this crooked culture, most of donors are either unaware or do not have time to assess the credibility of such institutions. Consequently, they opt to ignore the contribution wholly.
Charity Blockchain Association seeks to address this issue and ultimately rebuild the public’s trust in altruistic courses. By using blockchain technology, donors can keep tabs on how their donations are being used. Also, authorities can assess the source of such monies, as NGOs have been previously accused of using philanthropy as a cover-up for money laundering activities.
As mentioned earlier, cons have infiltrated charity organizations, and are making more at the expense of genuinely suffering individuals. As a result, the public has openly expressed distrust in charities, a situation that the Charity Blockchain Association intends to change.
Blockchain technology is renowned for its incontrovertibility as well as decentralization. On a monthly basis, foundations that are members to this platform will publish a summary of all their revenues and corresponding expenditures on the Charity Blockchain website (http://charityblockchain.ru). Here, visitors will have unfettered access to the data, and can afterwards keep track of how the donations are utilized. Since data entered on a blockchain ledger is unalterable, organizations that are listed on the Charity Blockchain Association site automatically gain the trust of donors.
The Charity Blockchain Association website uses a simplistic user interface that eases the process of tracking the performance of a desired foundation. Its founder, Mikhail Paley, is a significant contributor towards philanthropy, having established the One + 1 charitable trading platform. Mikhail is an ardent advocate for the adoption of blockchain technology among charitable organization, a move he says will rebuild the public’s confidence in the sector.
The project is currently gaining momentum, with the coverage expected to reach the global stage in the near future. To further increase its adoption, Charity Blockchain Association offers free membership.
Charity Blockchain Association Conclusion
Undoubtedly, blockchain technology is fully capable of transform the relationship among the major stakeholders in charity i.e. organizations, donors and beneficiaries. With blockchain, transactions are significantly easier to track. This eliminates the possibility of fraud and other underhand activities. Moreover, it may soon be possible to send the funds directly to the beneficiaries in the form of virtual currencies.
The adoption of blockchain technology could not have come at a better time in the charity sector. Given the incredible wonders the revolutionary technology is lauded for in other sectors, one can hope that the effect will be the same here!