London Blockchain Startup Launches Transparency Tool to Track DonationsU.K.-based blockchain philanthropy platform Alice.si has launched a new social tool that allows charities to increase donations by illustrating to donors what impact their money provides. Considering the low trust and confidence the public have with how charities use their money, it’s hoped that Alice’s new tool will remove these barriers to donating.
Making use of smart contracts built on the Ethereum blockchain, Alice.si, which is in honor of Alice who always seems to send money to Bob and si, which stands for ‘social impact,’ Alice works by freezing donations until charities can demonstrate that they have met their social goals. This then means that when donors give to a charity project on Alice, the donation is guaranteed to arrive at its destination where it will make an impact. If not, donors get their money back.
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