A-Cubed, the Silicon Valley outpost of Airbus, has launched an open source, public blockchain project aiming to assist charities and non-profits that are onboarding cryptocurrencies and smart contracts.
The Airbus Foundation, the European aerospace giant's philanthropic play, is the first to use the Ethereum-based blockchain technology developed by Heritage.
According to A-Cubed, Heritage will provide Airbus Foundation with a decentralised application to accept and manage cryptocurrency donations for itself and its partners.
"Many of the organisations that could benefit most from blockchain are denied access due to resource skill or knowledge gaps. Heritage wants to open these organisations up to a new class of donor," A-Cubed explained.
In addition to Airbus' own charity, animal welfare organisation HartSong Ranch Animal Sanctuary and the Museum of Art, Design, and Entertainment also participated in A-Cubed's pilot campaign, which consisted of an internal test of the donation platform.
Heritage is also working with Unicef for blockchain development.
Must read: The blockchain explained for non-engineers
Fundraising and donations is the first use case for the Heritage platform, with A-Cubed seeking to implement the same technology for its internal business applications.
With its blockchain play, the company hopes to set a standard that non-profits can replicate to "continue to grow the ecosystem".
"By releasing this project as open source, the project seeks to set or contribute to standards in this emerging space," the company wrote in a statement.
"Charities are often constrained by a lack of resources that impacts the good they wish to accomplish. While they could greatly benefit from blockchain technology, they've often been overlooked. Heritage shortens their adoption gap and connects charities and cryptocurrency donors to accomplish their goals in new ways."
Heritage records donation data as an ERC-721 token owned by the donor. A-Cubed said that when a donation is made through Heritage, the donation is recorded along with the donor's Ethereum address and donation amount. Heritage can also record and issue donation certificate information for taxation purposes.
The Hopepage will turn computer processing power into cryptocurrency for a new fundraising avenue for Unicef Australia.
The Ministry of Foreign Affairs of Denmark has highlighted the potential for cryptocurrency to be used to transfer aid in a way less susceptible to corruption.
Although blockchain's crypto-anarchist utopian dream is unlikely to be realised, it still promises plenty of benefits.
Blockchain is already impacting companies across the finance, healthcare, and food industries. Here's how.
The sun has returned on London streets as Boris Johnson, the unelected British Prime Minister, once again covers our TV… Read More
A Los Angeles man has plead guilty to a multi-million money laundering scheme. | Source: Shutterstock By CCN Markets :… Read More
If you are looking for ways to speculate on cryptocurrencies, then I am sure you have thought about signing up… Read More
In just around nine months, Bitcoin (BTC) will see its next block reward reduction — dubbed “halving”. Despite this rapidly… Read More
Share Tweet Send Share Just a week after the bitcoin genesis block in January 2009, computer scientist Hal Finney published… Read More