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Can Blockchain Technology Can Re-invent Charity?

Rumors of scams on charitable organizations sow the public in the midst of superstition and which reduces people’s trust in charitable organizations. However, in this world of philanthropy, catching scams lead to a drop in trust towards these organizations.

The largest drop in charity comes from donations among young people, people’s skepticism increases over the salary paid to the CEO, and concerns about where the donation ends. This is the time when they struggle with inefficient, underfunded administration.

The use of the word donation has been misused by many fraudulent groups, due to which the majority of the public is no longer willing to take the word donation as a bond. Blockchain helps build trust among donors, recipients, and other stakeholders who reach the right people.

It acts as a milestone, allowing greater accountability and clearing of donors to clearly see where their donated funds are going, improving administration costs and efficacy. Blockchain can help restore credibility created by donations to the public, proving trustworthy among the public.

In addition to solving the organization’s current problems, blockchains can enable charities and non-profit organizations to deliver results in an accurate way that would be impossible by any other means.

BCF (Binance Charity Foundation) is a blockchain-based donation platform at the World Investment Forum organized by UNCTAD’s. This foundation is a revolutionary donation platform for non-profit organizations that provide transparency and accountability by giving financial information to donors.

The head of the Blockchain Charity Foundation, Helen said that “Making the Donations by the BCF platform will provide full transparency, accountability, and direct reach to end recipients,”.

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