Chinese Authorities Intend To Track Charitable Donations Using Blockchain
The Chinese Ministry of Civil Affairs plans to improve the transparency of processes in the field of charity through a tracking system based on distributed technologies, Coindesk reports.
On September 10, the Ministry published the development strategy for 2018-2020, which describes, among other things, the possibilities of using new technologies to make social services more efficient. By the end of this year, Chinese authorities are going to decide on upgrading the existing system for tracking social donations using distributed ledger technology. The final stage of the integration is scheduled for 2020.
The decision to change the current system was made because of scandals in the sphere of charitable activities, which have increased in recent years and lead to a lack of trust to government among society. The representatives of the Ministry hope that blockchain will help to monitor and control data on charitable contributions and make information about them available to citizens.
The government intends to integrate distributed technologies into state-owned charities at all levels, as well as into private online services. For example, the giant of online commerce Alibaba and the technology corporation Tencent have already launched mobile applications to collect donations. At the same time, Ant Financial, the Alibaba's payment partner, is already using blockchain-based software to disclose information about sponsors and other data.
As previously reported, the Supreme People's Court of China allowed online courts to make verdicts on the basis of data recorded in blockchain.