China to Use Blockchain for Raising the Level of Trust in the Field of Charity
The Chinese government agency responsible for public services is going to introduce a distributed registry technology to optimize the existing charity monitoring system in order to increase transparency in the field of state aid.
The Ministry of Civil Affairs of China placed a plan for 2018-2022, which identifies tasks to be accomplished from a number of areas, among which the charitable sphere was mentioned, for which the authorities intend to apply blockchain solutions to ensure the required transparency of social services.
In its plan, the department informed the municipal organizations that the blockchain network would link the existing state bases with information on donations at all levels to the online services of private charitable foundations. As a result, information on charitable activities implemented using a number of services will be available to citizens on a decentralized platform.
It should be noted that Alibaba and Tencent have also created their donation services based on mobile software.