- SDF partnered with IRC to form a new pilot of a blockchain-powered aid disbursement system in Ukraine.
- The system permits the users to receive, store and transport funds securely.
- The pilot is built on Stellar Aid Assist to deliver relief funds to the people of Ukraine affected by the crisis.
The Stellar Development Foundation (SDF), a non-profit organization to support the development of the open-source Stellar network, partnered with the International Rescue Committee (IRC), to pilot “a first-of-its-kind blockchain-powered aid disbursement system in Ukraine.”
According to the announcement by the platform, the new blockchain pilot is “a novel end-to-end cash assistance system built on the Stellar blockchain, Stellar Aid Assist, that delivers relief funds quickly, affordably, and with transparency to individuals in crisis”.
Notably, the peculiarity of the new system is that it permits users to receive, store and transport funds safely. In addition, the pilot also offers an efficient and transparent way of distributing aid when compared to traditional systems.
Furthermore, the system allows individual users to receive digital dollars to hedge against inflation. Also, it creates an alternative for transporting the fund securely instead of handing over the physical funds.
The CEO and Executive Director of SDF, Denelle Dixon commented on the platform’s mission as providing equal access to technology to the public:
Our mission at SDF- creating equitable access to the global financial system- is about using technology to reach people where they are and when they need it most. That’s why we are proud to partner with the International Rescue Committee and together, pioneer the future of aid delivery on the Stellar network with Stellar Aid Assist.
It is significant to note that the blockchain has also mentioned the efforts that the IRC and partners took to support the conflict-driven humanitarian emergency in Ukraine. It has been reported that IRC has provided assistance to almost 83,500 people affected by the crisis.
Moreover, the IRC and SDF dispensed the stablecoin USD to 33 people and aim to reaching ultimately at 100 people across southeastern Ukraine.
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