Blockchain in Philanthropic Management
Sini Anna Alex, Anita Kanavalli, Drishya Ramdas · Advances in data mining and database management book series · 2021
In the world of cutting-edge technology, a buzzword that has been thrown around quite often is blockchain. It has gained prominence in a wide array of fields ranging from the money transfer industry to that of the healthcare sector. The primordial reason for this varied use is the concept of smart contract that makes it intangible and less susceptible to errors. Using this platform of blockchain, the authors propose an avant-garde method of contributing donations to charities through a pivotal body, namely the trust. This application is paramount in the sense that it binds the advancements made on the technological frontier with the social aspect of life, that is, charities in the form of NGO's or other such beneficiaries. This enforces the scrupulous way of donating, ensuring that the money does not get consumed by outsiders or any third-party bodies because ultimately, safeguarding the needs and necessities of the lesser privileged folks is the primary goal, which should be addressed with immediate effect.