Ever since the conception of the blockchain technology, it has been used by multiple businesses across the board, as it offers them various solutions to their traditional problems. Safe to say, it has helped quite lot businesses up their profit margins, which is the main reason that business are considering implementing blockchain in their ecosystems.
But aside from the moneymaking business, the technology also has philanthropic potential, as it can provide solutions and streamline the volunteer system. Only recently, a Chinese non-profit, Zhiyuan Hui announced that it would be partnering up with token economy infrastructure firm EveriToken, in order to launch a blockchain-based dApp.
According to the official EveriToken blog post, published on Jan 12, Zhiyuan Hui is supposedly the world’s largest volunteer service platform, serving over 430,000 non-profits. It also has an impressive user base consisting of 71 million users, who reportedly have dedicated over 100 million service hours, through the platform.
The blog post also mentioned the China Volunteer Service Economic Value Measurement Report, issued by the United Nations, which has valued the platform at over $500 million.
The reason behind this decision of utilizing the blockchain tech can be traced to management issues. Considering the astonishing rate at which both the users and the service hours have grown for the platform, Zhiyuan Hui definitely needed a more efficient system in place, hence decided to build a transparent volunteer tracking platform on the EveriToken public blockchain.
The new blockchain-powered system will enable governments, enterprises, and non-profits, to award roughly one million volunteers everyday in return for their service. And these awards will be in the form of “Yi Coin” points.
Furthermore, the blockchain will also be used to record volunteer data. The data will be logged onto what EveriToken terms an “open public welfare ledger.” The blog post further outlined,
[T]he everiToken-based system provides audit trails for various stakeholders with access rights, including governments and funders, eliminating the possibility of fraud for the various poverty alleviation projects and government foundation subsidy programs managed by Zhiyuan Hui.
The good part is that, according to reports, owing to EveriToken’s micropayments solution, people can already use Yi Coins to purchase basic commodities like food, electronics and hygiene products, at almost 100 unmanned retail locations.
With such projects coming along, the blockchain technology can do wonders for volunteerism. We are hoping to see more of volunteer projects getting on board with blockchain in 2019. Stay tuned to BlockPublisher for further updates.
La entrada Chinese Non-Profit to Launch Blockchain-Powerd DApp to Streamline Volunteerism se publicó primero en ELEVENEWS.