Hyperchain launches Blockchain solution to donations

blockchain solution to donations

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Chinese start-up, Hyperchain alongside China Xiong’an Group, has partnered to launch a blockchain solution to donations towards ending coronavirus (covid-19). The virus, since its outbreak, continues to threaten the world, putting world leaders and top countries on their toes.

Hyperchain blockchain solution to donations coincidentally was launched when local charities in China are being accused of not handling donated materials well towards fighting coronavirus and not distributing relief materials to the people who need them.

Dubbed Shanzong, the blockchain solution to donations began operation on Monday, Feb 10, and after three days, recorded information about close to 500 donations, proof to how effective blockchain tech will aid the fight against covid-19.

Shanzong record reports New Sunshine Charity Foundation and Yuegou Living Supermarket are key donors as Jiayu People’s Hospital, Tongshan People’s Hospital, and Xiantao No. 1 People’s Hospital of Hubei province where coronavirus patients are being treated are chief recipients of the donations.

A statement by Hyperchain explained that Shazong, the blockchain solution to donations, assures the genuineness of donations information by placing it on blockchain, which then cannot be manipulated.

Before blockchain solution to donations faces scandals 

Because coronavirus has continued to heighten tension around the world with death toll on the rise, aids pouring in are subject to many controversies, thereby damaging confidence people have in charity organizations.

Reportedly, people are faulting how charity organizations handle donated materials and how aids are given to those who need them. The most recent cause of public outcry originated from reports where medical centers complained of masks and protective gear required by medical workers as they work on the front-line and treat coronavirus patients.

However, Hubei’s Red Cross association, while responding to accusations, said that they were troubled and claimed responsibilities as to how relief materials where shared. These reports inspired the need to use Blockchain, AI, big data, and other technologies to up how relief materials are handled.

Coronavirus, a menace to the world

Covid-19 has continued to put the world at its mercy since its outbreak in China, after which it has spread to more than 20 countries across several continents. It has also been branded as a global pandemic.

With how the virus has continued to spread, affecting all spheres of people’s lives, stakeholders worldwide and sympathizers are beginning to find ways to help people who now suffer from the disease.

The blockchain solution to donations was launched to oversee how donations are managed, improve, and ensure donated materials get to victims they were given.

Featured Image by Pixabay

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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