Research report | Breaking the charity problem, blockchain is a good tool for good governance

Key takeaways:

1. With the deepening of society, charity has the role of alleviating social contradictions and solving social problems. China's philanthropy has gone through four major stages, including government endorsement, corporate support, Internet support, and blockchain philanthropy. In recent years, the total value of social philanthropy and the number of social organizations have been increasing.

2. However, charity and public welfare became sensitive words at one time, and problems such as fraudulent donations, fraudulent donations, unknown financial information of public welfare organizations, and lax running of crowdfunding platforms were encountered. These problems reflect the weaknesses of the current low level of organizational credibility and insufficient information disclosure of charities. To address these issues, improving transparency is the current breakthrough.

3. To solve the problem of charity, we need to start with two parties, one is a comprehensive legal system, and the other is advanced technology. China has promulgated the "Charity Law of the People's Republic of China" since 2016. Since then, it has gradually established comprehensive supporting policies and laws around the law. In terms of technology, many enterprises in China have used blockchain technology to solve the current problems of charity. Blockchain mainly affects charity from three aspects: transparent information, traceability, information sharing, information authentication, and management. This report describes related landing applications based on these three broad categories.