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There have been many issues in the field of public welfare and philanthropy that have attracted public attention.
The first is that the expenditure of charity money is not transparent. In the early years, Guo Meimei showed off his wealth and the Shanghai Red Cross broke out "huge catering invoices" and other incidents, which caused the public to question charities.
In addition, there is the issue of opacity of true information about charity events.
In 2015, the incident of "Nanjing critically ill children received 6 million donations, but was jointly reported by netizens for fraudulent donations" has caused heated discussions. In 2016, "Luo Yixiao, stop for me!" "The article maxed out the circle of friends, and then someone pointed out that it was marketing hype.
Although charity is a good deed to benefit the country and the people, it has been questioned because of frequent scandals. All kinds of problems can be boiled down to three words: opacity.
With the help of blockchain technology, all donation information can be put on the chain, from the project, review, start of donation to payment in place, and the whole chain record. With the technical characteristics of blockchain's decentralization, transparency, and non-tamperability, false information will be suppressed, and problems can be quickly traced and punished.
The source, whereabouts, and use of the funds will also be clear. In this way, unnecessary suspicions and disputes can be reduced, and efficiency can also be improved.
In addition, the unique smart contract system of the blockchain can also automatically operate and feedback the entire charity project process, reduce manual intervention, and ensure the smooth implementation of the project in a fully automatic mode, which can also reduce manpower and improve efficiency.
In December 2016, Ant Financial’s Alipay Anxin donation platform fully introduced blockchain technology and opened it to public welfare organizations. After review, the contracted institutions can publish public welfare projects on their own; in September 2017, JD Charity also used blockchain Realize the traceability of material donation public welfare.
In October of the same year, Tencent launched the "Public Interest Tracing Chain", which used blockchain technology to connect the data links of multiple tracing platforms, and enabled major public welfare platforms to share information.
- Ant Financial has opened a public welfare section, aiming to use blockchain technology to track fundraising, establish a third-party publicity system, blockchain capital flow publicity, and facilitate data statistics and project execution tracking for public welfare organizations.
What's more interesting is that in November 2019, Zhejiang Hangzhou Chun'an opened a blockchain charity smart bookcase, which is based on the immutability and traceability of blockchain technology, so that social donated books can more accurately match the needs of students.