BitGive - Proving aid through blockchain technology

Bitgive logo source

BitGive is one of the top projects that has facilitated charitable projects through blockchain technology, making it possible for donations intended for any projects to get to those in need. Since 2013, it has complicated so many charitable projects in Africa and many other parts of the world where aid is needed. BitGive is special in many ways, but one unique thing about them is their use of Bitcoin as the primary blockchain for receiving donations and sending them to projects intended for such donations.

Before explore some of the things that make it special, lets look at some challenges that the philanthropy sector faces without blockchain technology.

Charitable giving - the problems

There are many things that go wrong with Charitable giving and donations for those in need which blockchain technology is currently helping to solve. Consider the following 4 challenges:

• Lack of accountability: Many charity projects and organizations have struggled with misuse of donated funds as a results of poor record-keeping and accountability. This has negatively impacted the victims of disasters or others in need to whom a donation was intended.

• Slow donation networks: It usually takes a very long wait for non-blockchain charity projects to get help to those that need them. This is as a result of using traditional finance structures like the banks that are inherently slow. Financial aid therefore takes weeks, or months to reach the intended victims as a result of complex paperwork and other delays.

• Border restrictions: Disasters happen all over the world. Sometimes getting help to reach people in different parts of the world is really a daunting task. Since there is no traditional international payment system that is fast and efficient, delivering aid to far countries and remote locations remains a big challenge. Some philanthropic members of the society might have the willingness to give, but they do not have a fast and efficient means to get help to those people in need as a result of border restrictions.

• High network fees: People make donations for charity projects, but sometimes these donations are reduced drastically as a result of bank network fees. This makes it difficult for many people to get aid as a result of charges with reduce the intended amount by a high margin. At the end, fewer persons will benefit from the donation that has been cut down.

These and many other reasons makes blockchain-powered charity something that everyone should adopt.

Why BitGive is Special

BitGive has used the Bitcoin network to facilitate charity donations and projects quickly since 2013. Among other things, they have restored donor confidence through the transparent use of blockchain technology to show how donations are used. Two years after coming in existence, they launched BitTrack which helps the organization implement blockchain technology in tracking donations and projects receiving those donations.

Our flagship project is GiveTrack™, a revolutionary donation platform for nonprofits to provide transparency and accountability to donors by sharing financial information and direct project results in real time. source

BitGive has excelled as a result of blockchain implementation and boasts the following features

• Donation tracking: Their main tool Givetrack is built on the blockchain and is a space for donors to track their donations. Each Bitcoin donation is publicly recorded on the blockchain and the transaction details published. As such, the donor is able to see that their donation has been received.

• Project Tracking: Each donation is meant to support a particular charity project. Givetrack also doubles as a kind of charity projects showroom. As such, the donor will see how the project they donated for is progressing. They are also able to appreciate the impact such project is having on the intended people in need. Still, they see the stage of each spending from their donation. This is absolute transparency only possible by blockchain technology.

• Stop bad Projects: Some projects are discontinued once they BitGive identifies any form of fraud or bad sectors within the project. Such projects are also published on the blockchain, and the funds redirected to genuine projects. This feature helps to eliminate those that want to game the system.

• Reward donors: Care givers -they say - need care. BitGive also makes sure to appreciate their loyal donors and make them see that their donations are valued so much. This in turn motivates such donors to continue giving.

• Blockchain education: BitGive also arranges blockchain sensitization programs to enable donors understand this technology more and also appreciate its working principles.

Below is a video designed by the foundation to help the public appreciate why crypto donations are the best for charitable projects.

Watch this: Cash V. Crypto

Some Notable BitGive Projects

Here are some projects by BitGive that are at various stages. Note the complete detail given such as the donation goal, how much already raised, and the projects current status.

• Food and Health Security for Vulnerable Families in Mexico
• Emergency Hunger Relief in South Africa
• Transformative Tools for Small Farmers

Conclusion

BitGive has demonstrated how blockchain can power touch people's lives everyday - people in need. Its use of Bitcoin and blockchain technology has made it easy to have transparent and verifiable funding and financial records. Besides, its transparency ensures that donors track their donations in real time and follow the progress of each project. As such, help always reach those to whom it is intended.

In summary, blockchain technology brings decentralization, tokenization, accountability, transparency and efficiency to the BitGive Charity organization

Posted Using LeoFinance Alpha