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China plans to use blockchain to enhance the credibility of charity system

A Chinese government agency in charge of social services plans to upgrade the current charity tracking system through the implementation of blockchain technology. The project is aimed at making public donations more transparent.

Chinese Ministry of Civil Affairs released an action plan for 2018 – 2022, containing the description of several areas of implementation of internet technologies with the purpose of improving the transparency of social service activities, charity sector being one of these.

In particular, the Ministry notified the municipal agencies, that the blockchain network will link all the government charity databases to online charity services run by private charity funds. Thus, all the data on charitable donations made through various services will become publicly available via the distributed system.

Apart from traditional charity organizations, such internet giants as Alibaba and Tencent are already running their own charity services on the basis of mobile applications.

It is also worth noting, that cryptocurrency charity funds have already donated over $90 000 000 to various charity organizations.