Airbus researchers launch blockchain donation platform
The Heritage platform aims to help charities better measure return on investment and manage relationships with third parties.
A3, the research and development arm of Airbus, has launched a blockchain-enabled donation platform.
Called Heritage, the platform aims to help charities better determine the effectiveness and return on investment of fundraising and improve third party management.
The blockchain enabled system aims to remove “the need for middlemen” and ensure “charities and non-profits know exactly where their funds are going” according to a statement from A3.
Charities that gain donations using the platform will receive them directly into a cryptocurrency wallet.
Partnerships with blockchain companies
The A3 statement adds: “The Heritage team is working with other projects in the space to provide an offramp from cryptocurrencies into the charities bank account.”
In addition A3 is working with Maker, to include Dai into the platform. The Dai is an asset backed hard currency created to protect users from volatility in the crypto market.
A3 is also looking to form partnerships with other blockchain companies to add to the platform.
Blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Its design means it is resistant to data modification.
In May 2018 it emerged that blockchain is set to play a key role in the support of supply chain transformation in the healthcare sector by reducing fraud and better managing product quality.
Data analytics form Global Data said that several technology and pharmaceutical companies are working on ways to combine digital marking of pharmaceutical products with the secure distribution ledger technology of blockchain.