Many charities are currently facing hard times and are desperate for new solutions, explains award-winning entrepreneur William Toth. More importantly, donors typically want to see their donation go to the forefront of a cause, and not get spent on supporting issues or office work.
In fact, according to a CAF report released in March of 2015, 80 percent of charities are focusing on new technology to improve communications and online solutions. Blockchain technology represents a game-changing development in that it can massively reduce or even remove transaction costs for charitable donations, explains William Toth. By keeping a record of financial transactions across a distributed ledger that cannot be manipulated by individuals or companies, it prevents fraud or theft while opening up the possibility for transactions in all sorts of new types of assets, not just currency.
Plenty of big corporations support charitable giving. However, blockchain ecosystem Binance is the first to announce the creation of their own charity: the Blockchain Charity Foundation. Helen Hai, an influential businesswoman with charity at her heart, will head the new charity foundation, writes William Toth. Those who are involved in cryptocurrency know that Hai founded the Made In Africa initiative and regularly has the attention of various Presidents and UN council chiefs. Additionally, Helen Hai is currently the Goodwill Ambassador for Industrialization in Africa.
William Toth 