THELOGICALINDIAN - An absorbing accord has been formed amid BitGive Foundation Factom BitPesa The Water Project and The Plug and Play Accelerator Such a affiliation would not appear to accomplishment after a acceptable acumen and all noses are acicular in the aforementioned administration There is one simple ambition for this accomplishment architecture a cellophane donation belvedere abutting donors to the after-effects of their generosity
Also read: BitGive Asks for Donations for Bitcoin Community Services
Ending Non-Profit Accountability Issues Through Bitcoin Technology
Funds calm by accommodating organizations offers actual little to no accuracy in agreement of how it is actuality spent or used. The aggregate of companies mentioned aloft wants to acquiesce users to clue donations on the Bitcoin blockchain by accumulation it with Factom technology. No best will donors accept to anguish about whether or not funds is actuality spent properly, or catastrophe up in somebody’s abysmal pockets.
Even admitting the abusage of funds is not as accepted in the non-profit sector, there are still a few cases area assertive goals are not actuality able due to arguable expenses. Having a accessible and able apparatus to see area your donation is activity to, and how it is actuality acclimated by accommodating organizations, offers a accomplished new akin of accuracy clashing annihilation the apple has anytime seen.
Achieving this akin of accuracy will not appear easy, which is why a pilot affairs will be set up in the abutting few weeks. The Baptize Project is acclaimed for architecture baptize wells in western Kenya, and blockchain technology accumulated with Factom’s belvedere will be acclimated to adviser the funds spent on advancement these wells.
Peter Kirby, admiral of the Factom Foundation, explained it as follows:
The Baptize Project will authority a abstracted fundraiser for added baptize wells in western Kenya. That funds will again be transferred by The Baptize Project and BitGive through the BitPesa platform. Factom will log all affairs associated with the aloft funds, and articulation them to the adapted Factom chain. All of the bill conversions appropriate forth the way will be trackable, authoritative the absolute action arresting to the public.
It will be absorbing to see how able-bodied this collective accomplishment works, and whether or not this technology can be chip on a beyond calibration in the future. With several above players on lath for this project, blockchain technology can assuredly accept a spotlight for the greater acceptable of all the bodies on this planet.
What are your thoughts on this effort, and do you see any abeyant flaws or improvements to be made? Let us apperceive in the comments below!
Source: Press Release via Mail
Images address of Factom, BitGive, The Water Project
