IBM, a US multinational technology giant and a poverty alleviating non-governmental organization Global Citizen have partnered together to promote a contest for a charity donation blockchain platform.
IBM released a statement, which claims that one roadblock on the path of every philanthropic organization is making sure that the contributed charity funds are used effectively and efficiently, in a manner true to the purpose and goals of organization.
The contest held by IBM and Global Citizen focuses on creating a motivation for the creation of a blockchain platform, which can be used to track philanthropic contributions starting from their acceptance to their concluding utilization.
The “Challenge Accepted” contest requires the competitors to create a three-member network on the basis of the IBM Blockchain Platform, where cause-specific contributions and transfers of funds are performed by the government, registered with philanthropic organizations, and validated by the Global Citizen NGO.
The submission that wins the contest will have their product displayed on the website of IBM, receive workshops from both IBM and Global Citizen where the winning contestants will discuss together with industry leaders on how to implement their invention efficiently. Afterwards, their code will be revealed for other programmers developing similar projects.
During the previous year, Alice, a philanthropy blockchain platform based in the United Kingdom made an announcement for the release of the first-ever charity funding platform powered by blockchain. Alice commenced testing the platform that uses smart contracts to disburse contributions to goal-specific charitable organizations, at St Mungo’s, a London homeless support organization.