The well-known bitcoin-based charity Bitgive has announced the launch of Givetrack, a blockchain powered platform that traces nonprofit transactions. The application aims to allow greater transparency and ensures donor funds reach their destination.
Bitgive Launches Blockchain Transparency Platform Givetrack
Bitgive, created in July of 2013 by founder Connie Gallippi, was the first bitcoin-based nonprofit granted 501c(3) status. Over the years the charitable organization has helped many people such as the Water Project, by funding a working water well in Kenya. The well gives clean water to the Shisango Girls’ Secondary School and surrounding community of 500 people. Bitgive has also helped the Save The Children charity and Medic Mobile over the years.
Just recently Bitcoin.com reported on founder Connie Gallippi announcing the development of Givetrack at the Latin America Bitcoin Conference (Labitconf). Now the project has launched, giving a descriptive idea of what Givetrack’s mission will be. The platform is still under construction, but the Givetrack beta will be released shortly via the nonprofit’s blog. Bitgive has released a demo video of how the blockchain software works with donations.
“Donors have become more interested in how their funds are spent and they want to see the results,” explained Bitgive founder Connie Gallippi. “It hasn’t been that easy in the past. You may have heard of money being stuck in bank accounts or even going to hands of corrupt officials. Well, that’s over now. With Givetrack we assure that donations reach the people they ought to reach […] Givetrack is a platform that tracks donations and ties them directly to results on the ground. Givetrack uses blockchain technology which guarantees the safe transfer of funds across borders in just minutes.”
Bitgive Developed Givetrack With Help From Several Partners
Givetrack was developed by Bitgive, and the nonprofit is working closely with several partners. The project was funded by businesses and individuals such as Coinfabrik, Rocelo Lopes of Coinbr, Matthew Roszak of Bloq, and more. Bitgive says future features of Givetrack will create a “broadly-applicable platform, data analysis layers, feedback loops, reporting mechanisms, and more.”
Bitgive says they can’t stop poverty and natural disasters but with help from technology they can help people in need. The nonprofit has worked with bitcoin since 2013 and believes it’s an “amazing technology” when it comes to transparency. “Givetrack will build upon the existing core technology a customized platform for nonprofits that is data centered, user-friendly, and provides a comprehensive user interface,” says Bitgive.
“We’ve been using digital currencies such as bitcoin to fund projects in developing countries around the world,” details Gallippi. “Givetrack can help charities reach their goals without friction and fraud. You can now watch the flow of funds and project results in real time.”
What do you think about Bitgive launching its beta Givetrack platform? Let us know in the comments below.
Images courtesy of Shutterstock and The Bitgive Foundation blog.
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