Giving back – for Social Good
Disasters, war victims and poverty trigger charities to organize yet another event to collect donations from people with a good heart and compassion for those in need. Needless to say that there still is a lot that needs to be done.
One of the major issues that donors and funders have regarding charities or non-profit organizations is whether they can trust that their donated money really is going to those people and projects that the money was intended for. Charity organizations have to become more transparent, honest and held accountable about their whereabouts.
Then there is also the issue of their motives or agenda because it seems that a some of them have complex accounting and regulations structures and are carefully hiding information about their received donations and true costs.
Supporting a charity project by buying their products
When customers buy coffee, t-shirts or chocolate from a charity, how do they know if the farmers and factory workers were paid fair wages? Other than reading a statement on a piece of paper.
See the link (bottom) to a recent charity event where the organization claims to not have known that their t-shirts were made under bad conditions. All to raise money for Gender Equality.
Creating transparency with public blockchain technology
There is a profound need to redefine the way charities collect and operate. Our goal at UNISOT is to incentivize charities and non-profit organizations to become 100 % transparent by using public blockchain technology. This functionality is not only providing records of all financial transactions to be viewed by anyone at any given time, it also makes all information on projects public available, making it easier for donors and funders to select them and help scale projects that actually work.
The strong features of security provided by public blockchain technology increases trust through consensus and visibility, enabling automated secure and guaranteed transactions without third party involvement, thereby enhancing speed, efficiency and reducing time and cost.
Openly sharing this information on the blockchain will help reduce due diligence and will enhance the collaboration between every partner involved, which in turn will strongly benefit those people and projects they were meant for.