Israeli blockchain startup Orbs has published an open letter to French President Emmanuel Macron. This post promotes the use of blockchain technology to handle foreign aid after the tragic explosion in Beirut on August 4.
The transparency and accountability of the blockchain can help reassure both private donors and authorities that their financial support will be distributed effectively, they said.
Catastrophic events like Lebanon tend to spur promises of much-needed humanitarian aid from around the world.
French President Macron, the former colonial state of Lebanon, wasted no time in visiting the region and urging world leaders to expedite the provision of aid packages to deliver timely aid. But he also pointed to the need to ensure that aid reaches legitimate groups on the ground and does not end up in the hands of Hezbollah.
Unfortunately, history gives us a number of situations where well-meaning help is not used in the best way.
Of course, blockchain has the unique ability to allow multiple parties, who don’t necessarily trust each other, to cooperate transparently.
To this end, Orbs worked with the Hexa Foundation to advance the potential benefits of blockchain technology in the management and distribution of foreign aid to various governments and organizations. He even built a prototype that he said could be designed to create a fully customizable solution.
As Cointelegraph reported earlier this year, Orbs developed an app that encouraged people to self-isolate when the COVID-19 pandemic began to spread.