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?