Blockchain technology can be used to track donation funds allocation in non-profit organizations.
New York-based Seneca Park Zoo has been funding conservation projects around the world for years, however, the zoo's director of programming and conservation action, Tom Snyder admitted to having no idea how their annual $77,000 donation are spent.
As quoted by Financial Times, he said, "You send the money and you get an annual report on how it is going." Furthermore, he added, "Sometimes, because non-profit organisations are so stretched, the report doesn’t arrive for six months after the end of the review period. So it can be 18 months before you get any information. Many times the money doesn’t go towards the things they say it will."
To resolve this issue, his organization has been working with Ixo Foundation, a non-profit open-source software development organisation to keep track of their donation to tree-planting Ranomafana National Park in Madagascar.
Backed by blockchain technology, Ixo's platform uses smartphones connected to wireless sensors and satellite imagery to "show" what's going on in the rainforests in Madagascar.
The combination of technologies and tools provide pictures and GPS coordinates every time a seed or sapling is planted, then compare them with satellite imagery or light readings from ground sensors to confirm whether or not there's an increase of trees in the particular area.
Snyder described the future plan mentioning that starting February next year, zoo's visitors can donate and receive real time updates as well as the pictures of their trees being planted.