Could blockchain technology revolutionise the way NGOs deliver aid?
Could blockchain technology revolutionise the way NGOs deliver aid?
While money transfers are one of the most effective methods of aid assistance following a natural disaster, getting money into the hands of affected people can be a slow and complicated process. This led Oxfam Australia to trial blockchain technology as a new way of transferring money to vulnerable communities, with the help of a DFAT grant.
Blockchain technology – a decentralised method of storing data where transactions are recorded in a transparent and secure way – was used in the trial to give staff a breakdown of what people were purchasing and when. In a country highly prone to natural disasters with not many banks or ATMs, she said the streamlined approach made delivering aid quicker and more effective. Read More