Blockchain technology continues to expand all over the world. This time. The recognized technological company IBM has partnered with Global Citizen, so as to implement blockchain technology to boost transparency in donations for humanitarian causes. The information has been released on May the 11th by IBM.
IBM Partners with Global Citizen
Global Citizen and IBM will be using blockchain technology to build a network that encompasses all the aspects of the donation process. According to the UK Government, trust in charities has fallen during the last years.
And Global Citizen and IBM know that. This is why they will be working together to implement blockchain in the donation process and increase its transparency.
The interesting point is that both companies will be sponsoring a developer challenge in which coders will have to propose a blockchain solution that has a direct positive social impact. The contest will take place between May the 15th and July the 14th, 2018.
The press release presented reads as follows:
“Blockchain can provide transparency and accountability that Global Citizens demand. This challenge gives developers a real-world application to hack on that addresses a major issue in the NGO world and is directly related to the United Nation’s #Envision2030 initiative. Several of the examples of active blockchain networks built on our platform span across many of the 17 United Nations Sustainable Development Goals. Challenge Accepted Addresses the UN’s Goal 16 promoting peace, justice and strong institutions.”
As mentioned before, one of the main goals is to increase the confidence of the citizens in charities. The top 5 entries will win a pair of VIP tickets each to a Global Citizen Festival of their own choice.
“Imagine if every citizen had the confidence that philanthropic commitments were being honoured,” reads the release. “What if resources were in fact going to people with the greatest needs and that every dollar donated and spent was making a real impact. Wouldn’t a more transparent system incentivize people to give more?”
Registering to participate is very easy, you can do it following the step-by-step instructions presented here.