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GiveTrack - Blockchain-based Donation Tracking

Sector: Tertiary sector · Industry: Non-profit organisations · Organisation: BitGive Foundation · Maturity level: Production

GiveTrack is a platform by the BitGive Foundation that uses Bitcoin blockchain technology for transparent real-time donation tracking. The system allows donors to trace their contributions from initial transfer to final usage while reducing transaction fees from up to 13 percent of traditional bank transfers to minimal blockchain costs. Since the beta launch in 2016, the platform works with 31 NGO partners and has reached over 57,000 people in 29 countries.

Documentation status

Description

BitGive Foundation was founded in 2013 by Connie Gallippi as the first non-profit 501(c)(3) Bitcoin organisation in the USA. In December 2016 BitGive launched GiveTrack — a platform enabling real-time tracking of Bitcoin donations: every transaction from donor to final use is publicly visible on the Bitcoin blockchain.

The problem with traditional donation organisations: donors do not know after donating whether their money arrived and what it was used for. Annual reports come months later and show only aggregated figures. GiveTrack solves this: donors see the path of their Bitcoin donation in real time. The system operates on the Bitcoin blockchain: the donation goes to the NGO wallet; from there it is used for specific project expenses; all transactions are public and immutable. NGO partners on GiveTrack: UNICEF, Medic Mobile, Watsi, Save the Children, Red Cross and many more. COVID-19 Emergency Relief Fund: an example project on GiveTrack used during the pandemic with fully documented financial flow transparency. Bitcoin Magazine reported extensively on the GiveTrack launch in December 2016. For US donors: Bitcoin donations to qualified 501(c)(3) organisations are tax deductible (IRS Notice 2014-21).

Perspectives

B2B — organisations perspective

NGOs can fully transparently document donation income and expenditure via GiveTrack — this builds trust with international major donors and foundations who demand verifiable impact of their contributions.

B2C — consumers perspective

Donors can track in real time on GiveTrack.org whether their donation has arrived and what it is being used for — for the first time real assurance that the money reaches the intended purpose.

Employees perspective

NGO staff spend less time on manual reporting and administrative tasks because blockchain technology automatically documents all transactions. Increased transparency leads to greater public trust, which eases staff daily work through positive feedback.

Benefits

General

B2B — organisations

B2C — consumers

Employees

Challenges

General

B2B — organisations

Employees

Technology foundation

GiveTrack is based on the Bitcoin blockchain, which acts as a public and immutable ledger to transparently document every donation transaction. This technology is particularly suitable for the donation sector as it creates trust without a central controlling authority and stores all transactions permanently and verifiably.

Implementation examples

COVID-19 Emergency Relief Fund

The BitGive Foundation wanted to quickly and transparently collect and distribute emergency relief donations during the COVID-19 pandemic. Traditional donation channels would have been too slow and non-transparent to gain the urgent trust of donors.

The BitGive Foundation used GiveTrack for a COVID-19 emergency relief fund and reached 79 percent of the donation target.

The BitGive Foundation's COVID-19 Emergency Relief Fund used GiveTrack to transparently track all incoming donations. The project reached 79 percent of its target of 20,000 US dollars, raising a total of 15,818.28 US dollars. Every donation was documented via the Bitcoin blockchain and donors could track in real time how their contributions were used for pandemic relief.

The system solved the challenge of transparent and verifiable use of funds in a crisis situation. Donors could rely on their contributions being used directly and without detours for pandemic relief.

Tags

Transparency, Donation tracking, Bitcoin, NGO, Philanthropy

Sources

  1. BitGive Launches GiveTrack, a Real-Time Donation Tracking System
  2. BitGive Foundation Official Website
  3. GiveTrack Platform Information
  4. COVID-19 Emergency Relief Fund Project