en.cryptonomist.ch
Charity Wall is an Italian initiative which has created a “social marketplace” that tracks and certifies the use of donations on the blockchain.
This allows donations to be made safely, allowing to monitor, comment and verify the development of every single funded project.
In fact, thanks to blockchain traceability, it is possible to make public all the documentation relating to the activities of non-profit institutions, as well as convey the flow of money between the various stakeholders to whom the donations are destined.
The problem is that donations do not always really reach their destination. Some of them, for example, get stuck in bureaucratic procedures, end up in the pockets of strangers, or go back to the sender, while others arrive only in part.
The reality is that, in order to make the procedure really safe, the agreement between donor and recipient should be guaranteed, with a level of transparency that is often not easy to monitor.
Charity Wall tracks the donor’s contribution until the recipient, including how it is spent, so that the recipient can show donors how their donation made a real difference. This should also increase the confidence of the donors themselves, encouraging them to donate more.
The Charity Wall solution is available on Ethereum, but will also be made available on VeChain’s blockchain to reduce usage costs.
Charity Wall has also created its own token, CWCoin (CWC), which is almost ready for launch and will reward the most transparent and virtuous donor associations and companies.
It will be a voucher that can be spent on the platform for the purchase of services or goods provided by companies and professionals within the Charity Wall ecosystem, while tokens can also be purchased on the platform or donated to favourite associations.
Charity Wall is in the process of finalizing its first collaborations with companies that want to reward their clients, employees and associations with the CWCoin.
The CEO of Charity Wall, Luca Busolli, said:
“We want to restore confidence in the third sector and help organizations and institutions manage their donations transparently and make sure that money or services really get where they are needed most”.