A Digital Framework for CSR Donations using Blockchain for Disaster Victims
Asmali Badarudin, Thien Wan Au, Somnuk Phon-Amnuaisuk · 2019
This paper proposes the adoption of consortium blockchain technologies as a more efficient and effective means of transferring funds from corporate donors as part of corporate social responsibility to victims of natural disaster. The main benefit envisaged is that post-disaster disruptions to normal lives can be minimized or normal lives can resume better than the current situation as donation mechanism relies largely on manual and centralized processes. Using blockchain, corporations can donate fund anytime and this is especially useful for small and medium enterprises (SMEs) where they can donate in small amounts in a consistent manner to a fund setup for a disaster relief and recovery that disaster victim can use whenever required. The use case for this blockchain is corporate donors donating funds to victims of strong wind disaster in Brunei Darussalam. Through smart contracts of Ethereum, corporations incorporate details of donations and set out other requirements. A Brunei Government’s agency use of set of criteria can be used as part of the smart contract terms and conditions. These smart contracts can be part of decentralized applications that can be deployed to the blockchain network using cryptographic mechanisms to ensure security and integrity of the transactions. By this way, more companies are motivated to participate in donations while ensuring that victims can receive much needed assistance in the shortest time possible without solely relying on centralized bureaucratic processes.