DECENT Launches “Token 4 Hope”, a Donation Management Initiative for the Economically Disadvantaged

News and Analysis

DECENT, a non-profit foundation behind the open source blockchain platform DCore, has announced it is developing Token 4 Hope, a humanitarian project aimed at helping economically disadvantaged individuals through tokenization, transparency, and credibility.

According to the press release, 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, Collective Energy, an Austrian company focused on rethinking the energy sector through innovative crowdfunding models, and HumanVenture, a Russia-based impact investment community and co-organizers of DECENT’s recent Blockchain Pioneers Hackathon in Moscow.

Token 4 Hope – Humanity Token’s First Real Implementation

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.

Christoph Zinganell, Managing Director of Collective Energy, commented on the collaboration:

“The involvement of DECENT’s digital and decentralized blockchain technology, DCore, makes the initiative possible through intrinsic token utilization. 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, with more information about the progress of the project coming soon.

Launched in 2017, DCore is a stable, customizable and cost-efficient open-source blockchain platform for building decentralized aplications. As the world’s first blockchain dedicated to digital content, media and entertainment, DCore provides user-friendly software development kits to empower dApp developers and businesses in the decentralized network.

Follow ForkLog on Twitter and Facebook!

Found a typo? Highlight text and press CTRL+ENTER

Subscribe to our Newsletter


Related posts

Tags: ,