DASH Launches SMS-based Charity System in Venezuela – ICO Examiner News

The SMS-based DASH wallet service known as DASH Text, has debuted a pilot charity program that offers automated distribution of payments from donors to those in need without the need for any intervening action by any charity organiser or worker.

Around 50 young students at a school in Caracas who are facing financial hardships have been the beneficiaries of this first initiative and they are able to use the donations to buy school lunches. To date, DASH Text report that over 1,000 lunches and 900 beverages have been purchased through an average of 60 transactions per day.

By having a DASH Text wallet on their phone, no internet connection is required in order for students to receive donations.

World’s First Distributed Charity Model

Thought to be the world’s first distributed charity model, DASH Text believes its contribution model is capable of bringing much needed transparency to the charity sector.

A hard coded QR code is used to distribute $1 USD to each of the children involved and transactions can be viewed on the blockchain.

DASH Text CTO and co-founder, Lorenzo Rey, said that donations are “…immediately and equally distributed amongst the people you’re donating to, this is completely transparent and traceable on the blockchain, the money is never touched by a human third party inside our system, it is all automated and happens in just a few seconds.”

Explaining why the procedure involved is revolutionary, Rey continued “Recipients receive a confirmation SMS which might include the name and country of the person who donated. There is no system like this in the world today, all charity donations, including crypto charities right now require some sort of human intermediation.”

By providing cryptocurrency directly to those in need rather than food parcels, Rey explained that “They are buying food, but they are also learning and using crypto in their daily lives…” which in turn will bring “…new users, more transactions and more adoption!”

Recommended

Free Email Updates
Get the latest content first.
We respect your privacy.

Ethereum

Blockchain

Recommended

Blockchain Stock