China start-up launches blockchain-based platform to improve donation efficiency amid virus crisis

  • Initiated by blockchain start-up Hyperchain and China Xiong'an Group, the platform had recorded information on 500 donations as of Thursday

Blockchain is a distributed ledger where each participant can share, synchronise, authenticate and secure information. Source: SCMP

A blockchain-based donation tracking platform has been launched in China, aimed at improving the transparency and efficiency of giving at a time when some traditional charities have come under fire for poor distribution of resources to people in need.

Shanzong, which was launched on Monday, tracks what kind of donations are given, from money and masks to medical materials, how they have been matched to areas of need, and when they have been delivered, according to its maker.

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