DePhi: Decentralizing Philanthropy via Blockchain for Traceable Micro-transactions
Vikas Jaiman, Alfa Yohannis, Pietro Piccini, Enrique Barrueco Mikelarena, Bogdan Covrig, Cătălina Goanță, Visara Urovi · 2022
Today, content creators or influencers around the world are heavily reliant on digital platforms to mediate their revenue. Moreover, they use online platforms to gather funds for social causes through philanthropic campaigns. However, this raises concerns over the lack of transactional transparency of the campaigns and causes influencers to struggle attaining donors’ trust and interest in charitable causes. In this paper, we present DePhi, a blockchain-based solution to ensure transparency in philanthropy campaigns. Using a blockchain network, we record donations in the form of micro-transactions paid to content creators through smart contracts. Moreover, we develop a browser extension through which donors can easily track their donations in real-time. We use the Interledger Protocol to develop payment options in different cryptocurrencies.