BitGive Foundation Launches BlockTrack Fund-tracking Platform from Give Track.
BitGive Foundation announced the launching of the GiveTrack payment system based on blockhain, this always with the underlying bitcoin technology which is known for its transparency, something that the nonprofit sector has the dire need to use, that’s why BitGive Foundation is the first non-profit organization that uses bitcoin in the world. This foundation has the solution that allows donors to be able to track their donations.
It is mentioned that the lock-based solution called GiveTrack is a donation platform developed by the BitGive team. The GiveTrack platform offers unparalleled transparency in nonprofit fundraising, this allows funds to be immovable and the solution in a follow up, it also maintains a permanent record of all transactions from the source point until the funds are used.
On the other hand, the GiveTrack release was announced yesterday by BitGive this was made through a press release. On the other hand the BitGive funder, Connie Gallippi, reported the following “We are thrilled to announce the launch of GiveTrack, a game-changing technology for philanthropy. Give Track epitomizes BitGive’s mission to make use of innovative technologies that will improve philanthropic work while driving new donations. We are proud to have developed an effective tool that will aid in humanitarian efforts for causes around the world. This will create operational efficiencies and deepen the trust between charities and their donors.”
It can be expected that the nature of GiveTrack’s transparency also increased accountability among non-profit organizations, which not only aided beneficiaries from the donated money, but also facilitate the entire process of regulation and compliance for organizations. It is known that the GiveTrack project has received the support of the Walter and Karla Goldschmidt Foundation, Mattew Roszak, the blog, Rodolfo Andragnes from Bitcoin Argentina, among others.
It is known that during the launch event it included the projection of a GiveTrack video created by Bifilm, an art exhibition by Critograffiti and a charity auction. Apart from BitGive, other companies also invest in creating transparent solutions for the industrial sector, while Ant Financial, a subsidiary of Alibaba Group Holding Limited, with the Alipay payment platform.
Once payment tracking platforms based on Blockchain become a standard for nonprofit industry, the issue of misallocation and misuse of funds will be a thing of the past, Philanthropic donors may rest knowing that their donations Are used correctly. New announcements are expected.
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