DECENT, in cooperation with HumanVenture and Collective Energy, is developing Token 4 Hope – a humanitarian project aimed at helping economically disadvantaged individuals through tokenization, transparency, and credibility. The Token 4 Hope project is the first implementation under the Humanity Token initiative for Hilfswerk.
Humanity Token aims to alleviate the trust issues pertaining to social impact funds by using DECENT’s proprietary DCore blockchain platform. This will allow for donations to be tracked transparently, granting the donors direct information on how their contributions are handled. Valuable information can then be further analyzed to provide even better support for those who need help.
The initiative is a collaboration between DECENT, the international blockchain company, Collective Energy, an Austrian company focused on rethinking the energy sector through innovative crowdfunding models, and HumanVenture, a prominent Russia-based impact investment community and co-organizers of DECENT’s Blockchain Pioneers Hackathon in Moscow.
The initiative’s primary implementation, Token 4 Hope, is Austria’s first completely transparent donation system. The project aims to provide access to basic social needs for economically disadvantaged individuals in Vienna, Austria.
In cooperation with Hilfswerk, Token 4 Hope will be created and distributed to indigent individuals and the tokens can then be redeemed for goods in two social markets – the Vienna Aid Agency and the “New Chance” Second Hand Shop in Barichgass. Through DECENT’s DCore, the implementation will work on a reliable donation system that guarantees 100% transparency and credibility.
“The involvement of DECENT’s digital and decentralized blockchain technology, DCore, makes the initiative possible through intrinsic token utilization,” Collective Energy managing director Christoph Zinganell said. “The donated money is distributed to the beneficiaries by linking their ID cards with a blockchain account in which their funds are stored, leaving no further requirement to use any unnecessary gadgets.”
Humanity Token will see its first, work-in-progress implementation, Token 4 Hope, in the following months. DECENT and its partners will divulge more information about the progress of the project soon.