In a shared announcement on May 11th , the US multinational technology giant IBM and NGO Global Citizen reported that they would sponsor a blockchain charity platform to decrease poverty
To make sure that one of the major problems facing the optimistic institutions according to the statement from IBM is that the donated funds, which is also the main goal of the organization, should be used effectively and efficiently. The press release continues as follows:
“If we are going to solve societal issues such as extreme poverty or infectious disease, we need to make sure that every cause is getting the money they were promised, especially from the world’s most impactful donor group: federal governments.”
The main reason for IBM and Global Citizen to compete is to create incentives to build a blockchain platform that can be used to track the end-use of philanthropic commitments.
The “Challenge Accepted” contest is a competition in which the participants are registered as first members on the IBM Blockchain Platform, the second member is the special donors and funds transferred by the government for certain reasons, and finally all three are registered by Global Citizen membership wants to establish a network.
The winning project will be able to participate in a workshop with IBM, Global Citizen and industry leading names on how to implement this application, and finally the code that they write will be made available to programmers working on similar projects.
Last year, the UK-based blockchain charity Alice announced a pilot version of a blockchain-based donation platform. Alice uses a smart contract to transfer ‘mission-based charitable organizations’ to the London homeless support organization, St.Mungo.
Yesterday, the Bitcoin-only (BTC) charity known as the Pineapple Fund, made the final donation and said it had completed the task of donating 5104 BTC . This donation organization was carried out by an anonymous charity who used the nickname Pine in the middle of the BTC price increase in December 2017.