Yesterday we discussed about Decentralized Finance (DeFi) , what it is, what are its uses and why it is considered to be so significant.
Today I come before you with a use case for a real-world Blockchain application.
If I were to ask you "Which sector do you believe that Blockchain will disrupt", what would you respond? I think that most of you would think 'finance, economy, maybe commerce, healthcare ..?"
Would you consider "Charity"?
Aha, correct. Blockchain technology can disrupt many, many different sectors. And this post will be about an organization that offers charity to the ones in need.
Why could blockchain be used for charity organizations?
Charity and Humanitarian Aid can be offered through:
Transparent Donation Tracking: The donors can self-track their donations and see with transparency where their funds are used and if they reach the intended beneficiaries.
Managing identities for both donors and people in need: Managing identities can help in eliminating fraud, ensuring that the people in need are helped
Funds Raising: Funds can be raised quickly, without excess fees, from any part of the world.
The case study will be about Binance Charity, where we will examine how it utilizes blockchain technology for philanthropic initiatives. We will examine a series of strategic and operational questions in order to understand the organization's objectives, target beneficiaries, technology requirements, and potential impact.
Some of the questions include its mission & objectives, its current operation, and how it has integrated blockchain. What are the use case scenarios, and who are the team and beneficiaries? How is privacy secured and impact measured? Has the integration of blockchain enhanced the user experience?
Note: There were some specific non-profit charity organizations that came up during my research, however, some of them ceased operations, and others mingled with different organizations (and during my research, I came across one or two scandals, so I preferred not to mention them in this post)
Binance Charity, is using blockchain for social causes and it is a transparent donation platform which aims to eradicate poverty and relieve the ones in need.
2M+ people across 32+ projects in 54 countries have been impacted, by committing $23million.
Some of the recent actions were donating directly to wallets of people in need in Libya
And I was very impressed also that last year they partnered with University of Nicosia and offered scholarships for MSc program in Blockchain.
The Focus Areas of Binance Charity are to develop a transparent donation platform as they leverage blockchain technology to help people in poverty and inequality. They facilitate donations that can be made in crypto, and they can directly use Binance for donating.
If you visit their website, you can see how easy it is for someone to select & to donate directly to the cause they want.
You can see their projects here: https://www.binance.charity/projects
And you can directly support if you click on the project you select.
You can also see exactly how much has been donated and how many the beneficiaries are:
It is very easy to donate, just by clicking to 'donate now'
This is the video I created:
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