Partnership Announcement
On January 12, the world’s largest volunteer service platform, Zhiyuan Hui, made headlines by announcing its collaboration with EveriToken, a token economy infrastructure firm. With a mission to enhance volunteer service tracking, this partnership is paving new ways for recognizing the selfless efforts of millions.
Impact and Scale of Zhiyuan Hui
Founded to connect volunteers with non-profit organizations, Zhiyuan Hui has grown remarkably since its inception. As of December 2018, the platform supported over 430,000 non-profits and boasted a whopping 71 million users who collectively contributed more than 100 million service hours. The United Nations has even valued this impressive network at over $500 million!
Blockchain for Transparency
To tackle the immense scale of their operations, Zhiyuan Hui is leveraging blockchain technology to build a transparent volunteer tracking platform on the EveriToken public blockchain. This innovative system aims to assure all stakeholders, including governments and funders, of the integrity of the volunteer data logged on what’s dubbed an “open public welfare ledger.” Say goodbye to fears of fraud with this new audit trail system!
Introducing Yi Coin
In a delightful twist, almost one million volunteers could earn “Yi Coin” points daily for their invaluable contributions. These points translate into tangible rewards; volunteers can already use them at nearly 100 unmanned retail outlets to purchase essentials like food, electronics, and hygiene products, thanks to EveriToken’s micropayments solution. One can only wonder if they can eventually splurge on fancy lattes with Yi Coins too!
Global Trends in Blockchain for Charity
Zhiyuan Hui’s initiative isn’t an isolated case. Globally, organizations are increasingly turning to distributed ledgers to improve transparency in charity and public welfare sectors. For instance, last month, the Irish Red Cross adopted blockchain technology to enhance donation transparency, while Binance launched its own blockchain-based donation platform on similar grounds. It seems blockchain is not just for crypto enthusiasts anymore!
