Helperbit Says Blockchain Will Make Charity Donations More Transparent
Helperbit, a natural disaster tracking and donation platform, has launched a platform it says focuses on transparent charity donations using blockchain. The program allows contributors to track precisely how and where their money is spent.
Helperbit went public at an event entitled “Financing the Social Sector with Blockchain” at the Italia Chamber of Deputies at Palazzo Montecitorio, Italy.
At the event, Helperbit CEO Guido Turricchia said of the project’s future:
“Blockchain is the key element of a system that aims to shape the whole charity world and on the wave of this change Helperbit wants to become a point of reference, developing new tools to facilitate access to technology to everyone.”
Scandals have plagued charitable organizations in recent years. Donors have expressed frustration over who actually receives their money, and how much is spent on “administration” and marketing costs.
Thus, foundations are turning towards blockchain technology to prove their trustworthiness. Blockchain records all transactions in an immutable, auditable, and distributed manner — therefore making all data non-forgeable.
The promise of Helperbit, then, is that donors can now track their contributions till it serves the beneficiary.
This innovative dynamic could have a radical impact on the fundraising world. The company plans to extend its service to all natural disasters like floods, wildfires, and hurricanes using blockchain along with its Geographic Information System.
The idea a truly transparent charity system is materializing in the here and now accordingly.
Helperbit Adoption Already Happening
Already several non-profit organizations have adopted the Helperbit system.
These popular charitable trusts include the World Arctic Fund E.V., SOS Terra Onlus, China Biodiversity Conservation, Associazione Crocerossine d’Italia Onlus, the Green Development Foundation, and the Swiss Re Foundation.
Additionally, the platform also facilitates individuals to receive donations if they are the victims affected by a disaster. The program automatically displays potential registered individuals that might be affected by natural calamities.
Can Blockchain Make the World Kinder?
Alone, the U.S. generates hundreds of billions of dollars’ worth of charity donations every year. The struggle for kindness is competitive, to say the least.
Incorporating blockchain into charity programs has tremendous benefits for this struggle. Accepting donations via a blockchain-enabled model ensures enhanced trust. And trust is the foundation of these non-profit organizations.
Also, blockchain eradicates corruption as there are no middlemen or organizations to process the payments. Moreover, it can also eliminate transaction costs to almost zero.
Trustworthy charitable foundations such as Save the Children, Red Cross, and Greenpeace are also accepting payments via bitcoin. All blockchain-based charitable models including Helperbit’s platform provide an incorruptible medium to donate money that directly aids the beneficiary.
These models are the future.
What do you think? Does Helpbit have major potential? Let us know in the comments below!
Images via Helperbit, Pixabay