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Blockchain in charity, explained – Cointelegraph

Blockchain in charity, explained – Cointelegraph

Challenges in traditional charity systems and the need for blockchain-based fundraising The drawbacks of conventional charity systems, including limited visibility, high transaction fees and slow transaction processing, can be addressed by technologies like blockchain, which offer transparency, lower transaction costs and quick fund transfers.There are various challenges that traditional charity systems must overcome to function effectively. The lack of transparency in the distribution and use of funds is one of the main problems. There is often limited visibility for donors regarding the use of their contributions, raising questions about possible mismanagement or inefficiencies. This could discourage prospective contributors from making a… 

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