Global Citizen, IBM Start Challenge Accepted Blockchain Charity Donation Contest

IBM, a technology giant, has recently announced that its partnership with Global Citizen, an NGO that works towards issues related to poverty, was established to sponsor a contest for a blockchain platform that can be used for charity donations.

As per what IBM stated, a challenge that many philanthropic organizations face is ensuring that the funds raised are used in the most effective and beneficial manner possible, without neither wastage nor scams. The idea behind this respective contest stems from the fact that societal concerns can only be solved if the raised money makes it to those in need.

The contest, “Challenge Accepted” supposedly asks contestants to build a three-member network on the IBM Blockchain Platform, which is in place for cause-related donations and fund transfers made by a government and verified by Global Citizen.

As much emphasis is placed on helping to effectively serve those in need, even more is in store for the winner, both experience and educational-wise. Based on the claims made, the winner will have their minimum viable product featured on IBM’s website, a workshop with the technology giant, a conversation with industry leaders to address the procedures as to how the application will be implemented and lastly, their code made available for other projects aiming to solve similar concerns.

This is not the first time a contest has been issued for societal purposes. Last year, UK-based blockchain platform, Alice, announced that it has begun testing its charity-based platform, where donations were made to St Mungo’s via smart contracts. Similarly, Pineapple Fund, a Bitcoin-only charity released a statement in regard to successfully donating approximately 5000 BTC to charities worldwide. Will IBM and Global Citizen succeed in this endeavor?

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,467FansLike
2,795FollowersFollow
4,233FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Here’s the Larger Trend that Will Continue to Persist in the Markets

Yesterday, the bitcoin price dropped by 6.6% as it went down to $11,150. Today, the prices went down even further only to make it...

Another Unaudited ‘Zero Value' Farming Token is Taking the DeFi World by Storm & Coins Flying

The cryptocurrency world has been much faster than the traditional world, and now the DeFi space is running at a quicker pace than...

DeFi-Focused Protocol, Chia Network, Raises Another $5M in Funding Round

Chia Network, a Layer 1 focused blockchain project, has raised another $5 million in a funding round led by Slow Ventures. This latest...

Coinbase Withdraws From Blockchain Association Shortly After Binance.US Joins

Coinbase withdraws from the blockchain lobbyist group a day after Binance.US, Binance’s American wing, joined the group. In a report first published by The...

U.S Banks and Big Tech Ask the OCC for More Clarification to Issue Crypto Services

The United States Office of the Comptroller of the Currency (OCC) has received over 90 responses from various stakeholders’ in the financial services sector...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today