Chinese Startup Launches ’33 Charity’ Blockchain Tracing Platform

blockchain-based philanthropy-focused data tracking

Chinese startup FUZAMEI has launched a blockchain-based philanthropy-focused data tracking and data management platform.

According to a press release, “33 Charity” platform is designed to increase transparency and efficiency in the internal processes of enterprises, including charities, and contribute to improving the social trust.

The platform appears to be a shared network where organizations are able to register, store and manage personal information.

Reshaping Social Trust

Donors and recipients can make applications under their own names, while medical institutions may apply for authority certificates to receive signatures via identity authentication agencies, according to the press release.

 “With ’33 Charity’, donors and donees can issue demands on the chain in their own names. For example, hospitals can apply for CA certificates through identity authentication agencies to obtain signatures, so that donors can know the needs of the hospitals and avoid mistakes. At the same time, CA certificates can also be matched with various suppliers and logistics parties, making the whole donation process open.”

In addition to that, FUZAMEI announced a contribution of 100,000 Chinese yuan to combat the current coronavirus outbreak. Of which, the company spent 60,000 Chinese yuan on medical supplies.

Cryptos Fighting Coronavirus

Binance, the prominent crypto exchange, announced that a 10 million Chinese yuan ($1.44 million) donation to help push back the disease.

Furthermore, blockchain marketing service company Krypital also launched a charity donation program to acquire medical supplies for victims of Wuhan coronavirus, it also announced creating a blockchain-based donation system that will allow greater transparency and efficiency.

Likewise, Hyperchain launched a platform based on blockchain to combat the coronavirus epidemic. It will act as a portal for donations of medical supplies to support hospitals in central China.

On the other hand, leading organizations around the world, including the United Nations, Red Cross and World Wildlife Fund, have recognized the potential of blockchain to ensure more fair, inclusive assistance and the distribution of donated funds.

Consequently, the coronavirus event is only a local example of how successfully blockchain in recent years has helped to raise charitable donations.

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.