ALICE: restoring trust in charities
The platform harnesses self-enforcing ‘smart contracts’ on blockchain technology (a highly secure and transparent online ledger) to store donations, which are only paid when the charity reports an agreed level of impact. However, it’s outside investors, not the charity, who take the risk thanks to social impact bonds (payment-by-result social investment contracts pioneered in the UK).
Because of its high level of transparency, ALICE has the potential to rebuild trust in charities. In a climate where household donations have dropped, and government programmes cut, it adds security and accountability to the traditional crowdfunding model so the public can confidently donate funds. Nominet Trust funding will help the project scale and spread awareness of ultra-transparent, performance-based giving.
has been approved for funding from Nominet Trust. Funding is subject to successfully completing our project initiation process. - See more at: http://www.nominettrust.org.uk/what-we-support/projects/visual-assistant-tech-enhanced-sight-visually-impaired-people#sthash.QWxsjyeW.dpuf