Blockchain in Service of NGOs and Charities
DOI:
https://doi.org/10.54097/hbem.v1i.2327Keywords:
Blockchain; Cryptocurrency; Stable Coin; Coinbase.Abstract
Since its creation, charity and NGOs have been growing exponentially. Between 2019 and 2020, the sector is estimated to have an annual growth of 5.1% from $448 billion to $471 billion. Due to its enormous size, the world's NGO and charity sector has been facing various issues. These issues include fraud, lack of transparency, and high costs. Even more so, due to COVID-19, many forms of donations went utterly digital, resulting in high scams and transaction fees. After in-depth research on blockchain technology, the hypothesis is that this technology can necessarily eliminate many of these concerns. In a world of data and artificial intelligence, blockchain technology has become mature enough for many practical applications outside the world of cryptocurrencies. The characteristics of the blockchain make it a perfect fit for NGOs and Charities applications.
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https://www.apa.org/international/united-nations/ publications#:~:text =Statistics% 20about% 20the %20 number%20of,in%20the%20hundreds%20of%20 thousands.
https:// wear social. com/au/ blog/2021/ 04/ 60-percent-of-the-worlds-population-is-now-online/ #:~.: text= Kepios%20analysis%20reveals%20that%20more,year%20increase%20of%207.6%20perce nt.
https://www.abhe.org/wp-content/uploads/2022/02/Perkins-Clay-Cost-to-Raise-a-Dollar.pdf. https://explodingtopics.com/blog/blockchain-stats.
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https://www.demandsage.com/blockchain-statistics/.
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