Blockchain for Transparent Charitable Giving

If you donate to a Charity to help cancer patients or for feeding the homeless, often times this money can be embezzled and end up in the pockets of people who own the charity and take more of the money away from those who you intended to help. How can we stop this?

You guessed it, blockchain! That’s the beauty of blockchain all transactions can be viewed through block explorers. So specifically how would a charity organisation set up a way of allowing the public to see the funds coming in and where they are spent? Here is how I would do it if I was running a charity, for example’s sake lets say it was funding public housing developments called homes 4 homelessness

I would make a single Bitcoin, Ethereum, Solana wallet and maybe a couple more for different blockchains. Then I would share the public key or address of each wallet on the website as well as various other places and let people know that they can donate via these addresses. Donors could easily copy and paste these addresses onto a block explorer and this would show three things; the current balance of the wallets, transactions in and transactions out along with the amount within each incoming or outgoing transaction. So this is the easy part, now all the money coming in can be tracked so we know exactly how much money the charity receives now. How can we make sure the charity is transparent and the amount the staff are being paid is displayed? We would receive the cryptocurrencies, then we could easily swap them on-chain via a decentralised exchange for a stable coin like USDT. Each company employee would have an Ethereum wallet which the USDT or other stable coins like USDC will be paid into. The salaries of each staff member will not be private as I think it is a good idea to make it public information, so the public will know what each staff member is paid. That’s out of the way now, so how would we deal with transparency in using funds to purchase items? Each thing purchased or service paid for would need proof via a receipt uploaded. But how would we make sure that the charity is not doing corrupt things with the suppliers they are purchasing from? Blockchain again, this time a service like Vechain which is designed to track items, each item would be traced via this blockchain to make sure that the charity is not saying they purchased $100,000 of timber boards and only purchasing $80,000 worth of them and pocketing the difference. This would ensure a fully transparent charity service which doesn’t require trust that money is being skimmed off the top into someone else’s personal account.