The Irish Red Cross has teamed up with with a Dublin based company to use blockchain technology in a new app aimed at improving transparency for donations, the local news outlet The Irish Times reported.
The Red Cross is partnering up with the company AID:Tech for the use of their app called TraceDonate. The purpose of this app is to make donations transparent, and has been designed in such a way that donors know where and how their contributions are spent. Liam O’Dwyer, secretary general of the Irish Red Cross, said:
By partnering with a company as innovative and ambitious as AID:Tech, we hope to empower those who support the work of the Irish Red Cross to track their donations and in turn further promote transparency in the sector.
The app utilizes the main feature of blockchain technology i.e. transparency, in order to boost trust in social causes, and enables retail and institutional donors to make donations to groups, appeals or individuals (peer-to-peer).
TraceDonate uses the AID:Tech blockchain platform which is built on Hyperledger Fabric, and through the use of the app donors can keep track of their contribution and stay informed accordingly. It also comes with a history of past contributions, which allows donors to easily re-send them directly from the history section with fewer efforts.
The company AID:Tech was founded in 2014, and reportedly have deployed blockchain to deliver aid to Syrian refugees as early as 2015. Prior to the release of TraceDonate, the company had already developed a blockchain-based application, dubbed Transparency Engine, which was made possible by the integration of AID:Tech digital identity with blockchain technology.
Through the help of SGInnovate, the venture capital arm of the Singaporean authority, and Enterprise Ireland, an economic development agency, AID:Tech was able to raise an estimated €1 million in investments this year.