Blockchain technology has been suggested as a solution to major issues facing charitable donations in the US, which reportedly contributed to over $2tn in revenue in 2015. The blockchain-based platform will allow donors and charities to share information about their donations, with each other or third parties, without having to trust one another.
Blockchain technology has been suggested as a solution to major issues facing charitable donations in the US, which reportedly contributed to over $2tn in revenue in 2015. The public-centred technology could eliminate current transaction fees that are levied on donations, cut out middlemen, thereby reducing the potential for corruption, and ensure funds donated reach their intended targets, with every transaction being tracked and accountable.