Notwithstanding the exponential growth rate of digitalization, the charity industry, the most humanitarian sector, has far lagged behind the technological curve. Donations are still handled in the traditional way, giving rise to fraud and many other irregularities.
The most important challenge hampering the growth of the charity industry is the lack of transparency. Occasionally, in the third world countries, finding a not-for-profit organization that is one-hundred percent committed to the philanthropic deeds is nearly impossible, due to prevalent corruption. Often times, these establishments take advantage of the fact that charitable causes hugely attract governments and privates agencies’ interest as they are more liable to receive funding, and hide under the veil of it to obtain money from unsuspecting sponsors.This system of obscurity presents a cumbersome task for intending donors to sieve through the so-called organisations and find a genuine one. Occasionally, donors give up after painstaking search.
OOOBTC Charity Foundation( OCF) was created to tackle these issues using blockchain. It is a non profit institution committed to leverage on the blockchain’s smart contracts technology, decentralization and immutability to restore transparency to the charity sector and advance charitable deeds across the globe devoid of geographical barriers.
It aims to collaborate with charity institutions across the globe to provide financial help on health care, education to the needy.