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China Plans Utilizing Blockchain to Ensure Donation Transparency

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Tue, 11/09/2018 - 9:42
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China Plans Utilizing Blockchain to Ensure Donation Transparency
Cover image via U.Today
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Ministry of Civil Affairs of China has made up a plan of action for the next four years. The plan includes trialing Blockchain for making social service activities more open and transparent.

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By late 2018, the agency intends to improve with blockchain the current system that charity organizations are working on. All governmental charity databases will be brought together with private databases for donations in private sector on an open ledger network. After that, any donations will become open to the public and anyone will be able to check or just view them.

In China, tech giants like Tencent and Alibaba are currently busy creating mobile apps for making various kind of donations.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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