Browsing by Subject "Cryptocurrency donation platform"

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Real-time efficiency in charitable giving : a proof-of-concept for a blockchain-based platform using BTC and Lightning Network technology
(2023-04-21) Ayssa, Zeid; Julien, Christine, D. Sc.
The study's primary objective is to present a fresh perspective on a donation platform that takes advantage of Bitcoin and the Lightning network, Layer 2, to provide real-time transparency on how donation funds are utilized by non-profit organizations. Current donation platforms frequently fail to provide live transparency metrics to donors, leaving them unsure of whether their contributions are properly utilized or not. The goal is to establish a fully transparent and traceable charitable giving platform with live efficiency metrics as well as implement a proof-of-concept to demonstrate the feasibility of such platform. Through monitoring the real-time movement of donations from the payment origin to the ultimate acquisition of the goods or services funded by the donations, the platform will enable donors to observe precisely how their contributions are being utilized. The decentralized and unchangeable characteristics of block-chain technology ensure the safe and transparent handling of donations while also instilling a sense of trust and responsibility in the donation process. The proposed donation platform would make it mandatory for all money used by non-profit organizations to have a valid invoice message outlining their intended purpose and identifying the expenditure category as either program, administrative, fundraising, or capital costs. The expenditure details will help donors visualize the real-time efficiency score, which is the percentage of funds spent on program expenses compared to the overall overhead incurred by the non-profit organization.