Open AccessHow Blockchain Can Reinvent the Field of Charity - A Case Study
Author(s) -
Abin Sojan,
Akruty Bang,
Amal Shaji,
Er. Aneena Ann Alexander,
Feno Sony
Publication year - 2021
Publication title -
international journal of advanced research in science, communication and technology
Language(s) - English
Resource type - Journals
ISSN - 2581-9429
DOI - 10.48175/ijarsct-2413
Subject(s) - blockchain , headline , warrant , business , unit (ring theory) , public relations , public sector , big push model , finance , economics , accounting , law , computer security , political science , developing country , economic growth , mathematics education , mathematics , computer science , advertising
In the modern world, financial aid helps in economic process and also as social capital. The charity organizations with primary aim of financial aid play very important role during this sector. On the other hand, a series of scandals have rocked the manner that the general public perceives the standard charity, and trust in charitable organizations. It's no coincidence that headline-grabbing scandals within the world of financial aid coincide with the decline in religion toward these organizations. Blockchain technology because the integral a part of the system. Blockchain technology may facilitate resurrect the pictures of charities willing to adopt its services. By minimizing body costs through automation, providing additional responsibility through traceable giving milestones, and permitting donors to see additional clearly wherever their funds area unit going, blockchain might facilitate restore a number of the lost believability to charities that prove warrant the public’s trust. The Blockchain build trust with donors, recipients, and alternative stakeholders reach the proper individuals and improve administration prices and efficaciousness.