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BitGive launches blockchain-based real-time donation tracking system ‘GiveTrack’
BitGive, the first Bitcoin 501(c)(3) nonprofit, has announced the launch of GiveTrack – a revolutionary blockchain-based donation platform.
The platform is to be unveiled on the evening of December 8 at the San Francisco Bitcoin Social, one of the largest blockchain events in the United States. At the event, BitGive will also showcase an inspiring Givetrack video developed by BitFilm, according to the official blog. To cap off the launch of GiveTrack, BitGive will be matching donations during a live charity drive for The Water Project and Medic Mobile, courtesy of donations provided by Bloq, Netki, and Goodwin Law.
Under development for the past year, GiveTrack platform is the first of its kind, which offers the ability to transfer, track, and provide a permanent record of the route of global financial transactions from inception to the endpoint, BitGive said.
“We are thrilled to announce the launch of GiveTrack, a game-changing technology for philanthropy. GiveTrack epitomizes BitGive’s mission to make use of innovative technologies that will improve philanthropic work while driving new donations. We are proud to have developed an effective tool that will aid in humanitarian efforts for causes around the world. This will create operational efficiencies and deepen the trust between charities and their donors,” said Connie Gallippi, Founder of BitGive.
GiveTrack leverages blockchain technology that provides a high level of clarity, along with the ability to see the flow of value from the initial donation to allocation and deployment phases of funds. The platform also provides project status updates so donors can see their contributions in action. With the platform, anyone will be able to instantly trace the pathway of a charitable transaction, including the confirmation of delivery and the tracking of project results.
With blockchain as the foundation, GiveTrack is able to capture relevant data along each step of the process and record it to the blockchain, preventing the tampering of data or false accounting, the release said. Additionally, GiveTrack allows for increased public access to the provenance and movement of funds, providing potential donors with confidence that comes from clear evidence of a record of success.
According to the official release, major funders of GiveTrack include the Walter and Karla Goldschmidt Foundation, Matthew Roszak (Bloq), Rodolfo Andragnes (Bitcoin Argentina), CoinFabrik, and Rocelo Lopes (CoinBR), among others. BitGive also thanked Dawn Newton (Netki), Matthew Roszak (Bloq), Rich Morgan (Morgan IT Consulting), Peter Chasse (The Water Project), and Juan Llanos for their efforts.
“GiveTrack is an empowerment tool for nonprofits. Donors love to know the impact that their giving has created. It is an absolute motivation for people to give even more. However, donating has been known to be very time consuming and difficult for nonprofits to track. GiveTrack provides a solution by easily allowing nonprofits to onboard and use the system, while their donors can immediately see their giving at work”, Dawn Newton, a Director on BitGive’s Board of Directors and COO of Netki, said.
Since its founding in 2013, BitGive has conducted extensive outreach and provided educational resources for the nonprofit sector while integrating social impact with financial technology.
Peter Chasse, President and Founder of The Water Project, who worked closely with BitGive on the project, said “We recognized early on, alongside BitGive, that the blockchain provides a whole new way to allow confidence-inspiring real-time auditing of how organizations like ours spend the public’s donations. GiveTrack will allow charities to prove, in an approachable way, what they’ve been doing all along, namely providing sustainable, cost-effective solutions to people who need them most.”
BitGive supported Medic Mobile’s Nepal-based team in earthquake rebuild efforts by raising money and supplying 650 mobile phones to health workers in the Dhading District of Nepal. Other prominent nonprofits from around the globe that BitGive has partnered with include Save the Children, TECHO, Fundación Parlas, and Team Rubicon.
Alyse Killeen, a Director on BitGive’s Board of Directors and Partner at StillMark Investment Fund, said; “The GiveTrack Platform will create incredible efficiencies in the nonprofit industry, allowing for the optimization of charitable dollars in service of all stakeholders – nonprofits, populations served, and donors – so that each donor dollar can have maximum impact. By empowering donors to track their charitable dollars, and allowing donors to own and manage their own trust in nonprofit organizations through direct and instant access to dollar flows, BitGive can catalyze an increase in total charitable dollars given each year.”