The global charity organization, CARE, has created crypto-based
vouchers that will be distributed to women and select groups in Africa
and Latin America. According to CARE, these vouchers will be redeemable
for goods, services or cash and linked to the needs of recipients.
However, in its statement
announcing the launch of the pilot phase, the NGO reveals only groups
in Kenya and Ecuador are set to participate. In Kenya, the vouchers will
go to the “village savings and loans associations that are coping with
the economic impact of COVID-19.” In Ecuador, the crypto vouchers will
be distributed “to survivors or women at risk of gender-based violence.”
Project Launched in Partnership With Crypto Organizations
Commenting on the voucher launch, Christian Pennotti, the senior director for market-based approaches at CARE, said:
We are excited to be working alongside Celo and Emerging
Impact in Ecuador and Binance’s Blockchain Charity Foundation in Kenya
to test new ways that these technologies can support people to navigate
crises.
In addition to working with established crypto organizations, CARE says a separate partnership arrangement with Lab for Inclusive Fintech
(LIFT) will “inform the design of a rigorous experimental evaluation of
blockchain technology as a viable and effective option to deliver aid
in developing countries.” The NGO also reveals that the Kenya and
Ecuador pilots “will carry out focus groups to better understand trust,
information barriers, and use of and opportunities for stablecoins.”
While CARE says it is mindful of the risks that may be associated
with cryptocurrencies, the NGO however insists its interest will be
limited to the potential of this technology
source link : https://news.bitcoin.com/global-charity-organization-launches-crypto-based-vouchers-for-vulnerable-groups-in-kenya-ecuador/
