WFP Uses Blockchain to Distribute Cash Aid to Families Affected by Hunger Worldwide

WFP Uses Blockchain to Distribute Cash Aid to Families Affected by Hunger Worldwide
BY DANI GAS
22 March 2017 InfoCoin

 

The World Food Program (WFP) is using the Ethereum Blockchain to distribute cash aid to the world’s most hungry families, demonstrating that technology can help humanitarian organizations send aid to nations that need it most.

“Blockchain can revolutionize the way WFP delivers assistance to vulnerable families across the globe. It can bring us closer to the people we serve and allow us to respond much faster.” Farman Ali said in a PMA press release.

The United Nations food aid branch is implementing a project that employs Ethereum Blockchain and in turn is working to change its approach to how it feeds the hungry.

WFP, apart from providing food, has opened a cash assistance program called Building Blocks. WFP’s approach to adopting Ethereum Blockchain is the organization’s attempt to reduce the costs and risks associated with cash transfers.

The number of cash transfers has increased for the WFP in recent years and have proven to be effective and efficient in improving livelihoods in some of the poorest nations. WFP believes that Blockchain can explore cheaper and less risky alternatives to get people to have the money they need with transparency and security in mind.

The advantages of using Blockchain is that the WFP can be sure that people are getting the food and money they need, and not only that, but they can also track and verify how families spend the funds. The blockchain has the potential to change the way things are done for humanitarian assistance, particularly when it comes to the world’s poorest countries.

If a disaster occurs in a country where access is limited to help, organizations can use Blockchain as an efficient and quick way to distribute funds. As technology becomes more conventional, more organizations are realizing the benefits it can provide, one of which is people living in undeveloped countries who require assistance with day-to-day life.

Source: cryptocoinsnews.com

Disclaimer: This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest. The opinions expressed in this article are those of the author, they do not necessarily represent infocoin views and should not be attributed to Infocoin.

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