Blockchain Charity – Experimentation in China
Bitcoin and blockchain technology hold great promise for charity work. Blockchain charity is an idea we could see a lot in the future.
In particular blockchains could be revolutionary for the operational aspects of charity.
Blockchain technology involves are transparent ledger. Everyone is able to track the usage of funds. The information is publicly available. Because of the unique nature and properties of blockchains the information is secure and confidential at the same time.
We were able to leverage the unique attributes of blockchain technology to make the world a better place.
This greater promise is often ignored by the mainstream press. If those who malign Bitcoin and blockchain technology would focus more on the positive potential, it would be better for all.
— Kristian T. Sorensen (@KristianT) July 12, 2016
It aims to act as a transactional database for donations made by Alipay customers, to charities supported by Alipay.
By underpinning their charity endeavours with a publicly verifiable and immutable database, Alipay hopes to inspire greater transparency and confidence.
Alipay and its associates are huge players in international commerce. Any successful experimentation will carry significance.
Should this experimentation find its way into mainstream use, it would benefit the entire blockchain industry. As it would demonstrate the utility of the technology for a non-trivial use.
This could be expected to have flow on affects. As we would see more experimentation with blockchain technology, outside of charity. This would benefit the entire Bitcoin and blockchain ecosystem.