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- Tags: humanitarian organizations, poor regions, public lending, use blockchain
Red Cross started using blockchain to improve aid effectiveness
Blockchain & Environment
KK annually distributes between the affected areas and those in need about $ 1 billion in cash and special assistance vouchers.
The committees of Norway, Denmark and Kenya today announced the launch of a two-year program to replace cash and vouchers in public credit system. She will allow to the victims and residents of poor regions to earn money (by work or by providing various types of assistance), which can spend through a mobile app recording all transactions in blockchain.
Testing a new systems in Kenya and Ethiopia showed, that it improves trade in poor communities and stimulates their economic development, since it does not require users to have fiat money. In the future, it is deployed in Malawi, Myanmar, Zimbabwe, Cameroon and Papua-New Guinea, covering two of the year 320 thous. person.
Despite the positive assessment of the project by observers, local banks reacted negatively to the innovation, citing the fact that the public lending scheme reduces the demand for their services..
Aid Agencies Believe Blockchain-Based System Will Revolutionize Aid Delivery, insofar as ensures transparency and confidentiality data, allowing you to track the distribution benefits almost in real time, and promptly correct work for improve service.