A multinational network for aid groups is testing blockchain to track donations and aid disbursements.
The Start Network, which counts more than 40 organizations within its membership and is headquartered in the UK, announced yesterday that it is working with a startup called Disberse to test the tech. Contributors to the network include groups like Oxfam and Save the Children, as well as an aid-focused office in the European Commission.
Disberse is a fund management startup using the blockchain to transfer and trace aid contributions among donors, governments and charities, among other parties. The collaboration aims to let donors follow the transactions that are recorded on a distributed ledger for the sake of transparency.
Sean Lowrie, the group's director, said in a statement:
"This exciting partnership could lead to the transformation needed in the way money flows through the humanitarian system. The Start Network is testing innovative solutions to many humanitarian challenges to enable aid agencies to be more efficient and effective."
Disberse was among a group of startups accepted into a fintech accelerator launched last year by the Financial Conduct Authority, one of the UK's financial sector watchdogs. It was one of nine companies working with blockchain to join the accelerator.
Image via Shutterstock
The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected]/* */.
Bitcoin’s bouncing back, here are the next big catalysts for the cryptocurrency
Bitcoin is back. The cryptocurrency surged Tuesday, closing in on the $12,000 level. One bitcoin bull says progress on the regulatory front could send it even higher. According to CNBC "Fast
EU Regulators to Discuss Crypto Regulation Next Week
A group of European Union regulators will meet next week to discuss the regulation of cryptocurrencies.
Speaking to reporters on Tuesday, European Commission vice president Valdis Dombrovskis said
Lisk Relaunches Blockchain Project With 'Accessibility' in Mind
The team behind the Lisk blockchain network is hosting a relaunch event in Berlin today, boasting a new look and long-term plan for the project.
"Rebranding normally only involves a change of desig
Finland Mandates Cold Storage, Public Auctions for Seized Bitcoins
Finland's government released new guidelines today that set out how law enforcement officials must handle cryptocurrencies they confiscate.
The official agencies in charge of storing the cryptocurr
500 Startups, Huobi Labs Team Up to Incubate Blockchain Projects
500 Startups, the Silicon Valley startup accelerator, announced today that it is partnering with cryptocurrency exchange Huobi's incubator wing, Huobi Lab.
The two companies will support startups i
Bitcoin Price Ticks Higher Amid Strong Korean Demand
Bitcoin's recovery continues apace, with prices passing $11,600 in the morning's trading.
According to CoinDesk's Bitcoin Price Index, at around 07:00 UTC today, the cryptocurrency reached $11,
Final 4,200,000 Bitcoins To Be Mined, The Big Game Of Mining Chip Algorithm
Miners used to mine bitcoins via CPU of PC at the birth of bitcoin. Simply downloading a software, “puzzles” then could be solved automatically and bitcoins’ awarded. However, the price of bitco
Venezuela's 'Petro' Token Launches in Pre-Sale
The Venezuelan government has officially launched the pre-sale of its controversial "petro" token, according to a report.
The petro was first announced in early December 2017 by President Nicolas M