A3, the Silicon Valley outpost of the Airbus group, is about to launch a new platform for blockchain-based donations: Heritage.
A3 is an aviation research group that studies advanced technological solutions in order to anticipate competition by implementing innovative projects.
The Heritage project is a platform for assisting charitable organisations and uses cryptocurrencies and smart contracts.
According to A3, marketplaces dedicated to charity and based on cryptocurrencies are difficult to use.
The goal of the Heritage project is to build a new marketplace: for this reason, they are working with an association that brings together different charitable organizations and are developing open source code to create a platform for donations.
According to A3, the use of new technologies and third parties to manage donations or fundraising is still a risk.
In fact, they claim that it is difficult to determine the effectiveness and ROI of funded projects and keep track of how funds are spent.
In addition, the charitable organizations themselves have sometimes been the focus of their own scandals related to the use of the funds raised.
Heritage tries to solve this problem by creating a blockchain-based system, without intermediaries, that ensures transparency and knowledge of where the funds raised end up. In addition, using this platform, charitable organizations will receive the funds in cryptocurrencies directly on their wallets with the option to convert them into fiat currencies or to store them in cryptocurrencies.
In order to protect those who wish to keep their funds in cryptocurrencies from their volatility, the Heritage team is working with Maker to include DAI among the cryptocurrencies supported by the platform.
DAI is a stable coin anchored to the value of the US dollar and created to protect users from the volatility of the cryptocurrency market.
For charitable organisations, the use of cryptocurrencies is already helpful, since it reduces collection costs, allows collections from anywhere, and also allows the use of funds raised all over the world with extreme ease.