First bitcoin 501(c) (3) nonprofit BitGive announced in a press release sent to CoinReport the launch of a groundbreaking blockchain-based donation platform the company calls “GiveTrack.” The transparent platform offers the ability to track, transfer and provide a permanent record of the route of global financial transactions from inception to endpoint.
The company said in the release that its platform had been under development for the past year as its team worked untiringly to form partnerships, raise funds and design new technology.
BitGive founder Connie Gallippi said on the occasion, “We are thrilled to announce the launch of GiveTrack, a game-changing technology for philanthropy. GiveTrack epitomizes BitGive’s mission to make use of innovative technologies that will improve philanthropic work while driving new donations. We are proud to have developed an effective tool that will aid in humanitarian efforts for causes around the world. This will create operational efficiencies and deepen the trust between charities and their donors.”
Offering a unique solution to the challenge of transparency – a big problem for nonprofits, GiveTrack utilizes blockchain technology that offers an exceptional level of clarity to nonprofits and donors alike with the ability to see value’s flow from the early donation to allocation and deployment phases of funds. To enable donors to see their contributions in action, the platform also offers project status updates. With the platform, the pathway of a charitable transaction, including the confirmation of delivery and the tracking of project results can be instantly traced by anyone.
The platform’s foundation is blockchain technology, which allows the publication of records to a publicly available, permanent ledger that can also maintain confidentiality. Preventing false accounting or tempering of data, GiveTrack is capable to capture pertinent data along each step of the process and record it to the blockchain. Furthermore, the platform provides better public access to the movement and provenance of funds, offering prospective donors with assurance that comes from strong evidence of a record of success.
“GiveTrack is an empowerment tool for nonprofits. Donors love to know the impact that their giving has created. It is an absolute motivation for people to give even more. However, donating has been known to be very time consuming and difficult for nonprofits to track. GiveTrack provides a solution by easily allowing nonprofits to onboard and use the system, while their donors can immediately see their giving at work,” said Dawn Newton, a director on BitGive’s Board of Directors and COO of Netki.
According to the press release, major investors of GiveTrack include the Walter and Karla Goldschmidt Foundation, Matthew Roszak (Bloq), Rodolfo Andragnes (Bitcoin Argentina), CoinFabrik, and Rocelo Lopes (CoinBR), among others, with special thanks going to personal champions of the project, including Dawn Newton (Netki), Matthew Roszak (Bloq), Rich Morgan (Morgan IT Consulting), Peter Chasse (The Water Project) and Juan Llanos.
BitGive will reveal its platform on the evening of December 8 at the San Francisco Bitcoin Social, one of the biggest blockchain events in the United States. At the event, BitGive will also present a motivating GiveTrack video developed by BitFilm. The event will also include the premiere of a new blockchain rock song and music video from Aaron Koenig, an art show from Cryptograffiti and a charitable auction featuring donations from Andreas Antonopoulos and KeepKey. To conclude GiveTrack’s launch, BitGive will be matching donations during a live charity drive for Medic Mobile and The Water Project, courtesy of donations provided by Goodwin Law, Netki and Bloq.
Image via a previous press release CoinReport received