AID:Tech to use Circle in fraud-proof disaster relief delivery


Choose your language:
The company uses digital ID and blockchain technology to deliver international aid and disbursements
Financial services company AID:Tech announced yesterday that it will be using the payment rails of stablecoin issuer Circle to provide fraud-resistant disaster relief delivery in USDC.
AID:Tech aims to reduce inequality and increase opportunity by bringing accountability and transparency to the distribution of federal relief. They became the first company to use blockchain technology to deliver international aid in 2015.
Those in need can easily access and receive data and payments directly with AID:Tech’s technology and the company has worked with development banks, governmental bodies and charities such as St. Vincent de Paul Disaster Services and Women’s World Banking.
CEO of St. Vincent de Paul Disaster Services, Elizabeth Disco-Shearer, said, “We first ran a hugely successful pilot with AID:Tech in Florida in 2018, and it opened up our eyes to the power of blockchain and how it can help us provide more disaster services faster. We’re grateful to work with AID:Tech and witness how new financial solutions can make a difference.”
Users of AID:Tech’s digital ID and blockchain technology can onboard beneficiaries, with options for document submission, self-verification and individual case management. Disbursements can then be made instantly through cash, payment cards, vouchers or directly to digital wallets. Organisations can even collect data on their beneficiaries’ spending habits.
Co-founder and CEO of AID:Tech, Joseph Thompson, said of the new collaboration, “AID:Tech’s work with Circle accelerates our ability to deliver seamless, transparent payments transactions between humanitarian organizations, merchants and people requiring fast access to funds. In the wake of disaster, money matters and timing is everything. This collaboration gives AID:Tech an opportunity to make a meaningful impact when people need it most.”
The speed, convenience and global nature of digital assets make them an ideal solution to many real-world problems and leveraging USDC will help AID:Tech streamline charitable programmes, government disbursements and aid delivery to victims of natural disasters.
Circle Co-founder and CEO, Jeremy Allaire, commented, “Collaborating with AID:Tech to power the delivery of relief payouts via USDC to people impacted by natural disasters and helping connect underserved individuals to financial means is extraordinarily rewarding. It’s the application of the mission we set out to accomplish when we started our journey with Circle.”
Keep updated with our round the clock and in-depth cryptocurrency news.
Unsub anytime
No SPAM ever!
After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. View our privacy policy here.
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.
Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.
CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.
When trading in stocks your capital is at risk.
Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.


Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

NFTs will redefine how we store culture: Yat Siu

Next Post

MetaMask adds support for custodians BitGo, Cactus and Qredo

Related Posts