Blockchain Technology is popular for its transparency of transactions and decentralization features. Now, the same is attracting aid groups around the world. The idea is to deliver aid amount to the beneficiaries in time without cutting off the profit shares of local officials.

The Blockchain technology is providing a secure platform for transactions. It is more popular because of its transparency in operations. That cut off any risk of bribes and frauds by local officials – a longstanding problem in the industry.

The technology makes sure that buyers avail goods in time at no extra cost of graft or bank transfer fees. Also, the transparency feature helps donors track the way their money is reaching to beneficiaries. According to Former UN Secretary General Ban Ki Moon, in 2011, their government could not able to track 30% of a donation, amounting to $40 Billion, of the total donation made.

The UN’s World Food Programme has been using Blockchain to help refugees in camps in Jordan since 2017. Till now, it has managed to aid over 100,000 refugee families. The programme aims to extend this figures to over 500,000 by the end of March next year.

He stated why exactly a blockchain-powered payment network is hard to breach. It is mainly because the data remain safe in multiple nodes. It will demand a huge computing power to breach the data and take away the money – It is nearly impossible. That’s the reason the World Bank, Unicef and the Red Cross, are looking at the best possible ways to utilize Blockchain for the greater good.