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DECENTRALIZED, SECURED AND RELIABLE CHARITY SYSTEM USING BLOCKCHAIN

  • Unique Paper ID: 156111
  • Volume: 9
  • Issue: 2
  • PageNo: 906-909
  • Abstract:
  • Individuals are progressing at the expense of cataclysmically damaging society and making people more distant and standoffish in our quick-paced modern environment. Others have no idea how to make even a penny, while some people are becoming too competitive to make any money. However, there are also those who want to give back to society for selfless reasons. However, the current centralized systems and brokers for charity are so dishonest that individuals stop believing in these unreliable mechanisms, rendering the charities useless. What if we could improve the efficiency and reliability of the charitable system by combining current technology with the ravenous ideology of money-minded people. Taking a decentralized approach, cryptocurrencies and finance with the additional benefit of include even these people in a beneficial way, the system of charity can be much improved for donations. We suggest a method, supported by cryptocurrency transactions, to increase the transparency and reliability of the charitable giving system, wherein charitable giving (in the form of work) is first performed by individuals or organizations, and then that work can subsequently be sold as a stock (here we call it a certificate). This will function similarly to how the cryptocurrency exchange market operates. People can raise money through it exactly like stocks, but since the certificates can only be produced by those who engage in charitable activities, the money would ultimately benefit charities. By utilizing Blockchain technology, smart contracts, and cryptocurrency, the entire system will be decentralized. This system would enable everyone to independently contribute to society using his skills and time in addition to money, which would ultimately result in an increase of hands working toward the improvement of society.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 9
  • Issue: 2
  • PageNo: 906-909

DECENTRALIZED, SECURED AND RELIABLE CHARITY SYSTEM USING BLOCKCHAIN

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