Fintech Ltd announces today its popular Stellar wallet and decentralized exchange, Interstellar, has been selected by GiveDirect as its goto blockchain platform for transparent, secure charitable donations.
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Total giving to charitable organizations was $410.02 billion in 2017 (2.1% of GDP). This is an increase of 5.2% in current dollars and 3.0% in inflation-adjusted dollars from 2016. As in previous years, the majority of that giving came from individuals. Specifically, individuals gave $286.65 billion, accounting for 70% of all giving and representing a 3.0% increase over 2016.GiveDirect, a global charity project, holds the vision of eradicating extreme poverty worldwide. Set up in 2017, GiveDirect is an innovative charity that uses blockchain technology to solve the number one issue plaguing all charities: transparency. In 2017, after a year piloting their blockchain charity solution in Ghana, it became apparent to GiveDirect that they needed a faster, more scalable blockchain solution, with better tools.
Early 2018, GiveDirect switched from its previous blockchain solution to the Stellar platform. GiveDirect chose Stellar principally because of Stellar’s speed, multi-asset paradigm, decentralized exchange, multi-sig, and vibrant ecosystem of tools built on top of Stellar. In particular, their move to Stelgicvlar was cemented with the discovery of the Interstellar. Interstellar is a Stellar wallet and decentralized exchange, which takes most of what Stellar has to offer and packages it into one neat coherent user-experience. The ready-made Interstellar platform from Fintech Ltd freed GiveDirect from re-inventing the wheel, and instead allowed GiveDirect’s team to focus on their own tech, notably, an NFC wrist-band to make storing crypto-currencies very painless for their target audience.
According to GiveDirect’s CEO, Kevin Colussi,
Interstellar cemented our choice of Stellar. Particularly, we loved the way Interstellar implemented Stellar’s multi-sig (multiple signatures), which was very important to me as a CEO to reduce the risk of fraud, misuse of funds and to ensure continuity. Secondly, we loved the way Interstellar made it very easy for us to accept multiple crypto-currencies, and exchange them all to Stellar Lumens within the Stellar Decentralized Exchange (SDEX). Our previous blockchain solution only accepted a single cryptocurrency for donations, which limited the amount of donations we could receive. Finally, Fintech Ltd’s support team has been excellent, even going out of their way to provide us with custom code to ease our work. We’ve already successfully rolled-out Phase One of our direct charity giving programme in Ghana using cryptocurrencies and blockchain technology. We plan to expand soon in other regions of the world which are experiencing extreme poverty.
According to GiveDirect’s champion in Ghana,
We love how Interstellar was built to be mobile first. Here in Ghana, this is a life-saver. The ease of use of Interstellar, coupled with our dead-simple NFC enabled wrist-bands, has made managing charitable donations a lot less stressful, and fully transparent.
According to Fintech’s CEO, Mr Ernest Mbenkum,
When we learned about GiveDirect, and what they were trying to do, we jumped right in to provide a helping hand. Families living in extreme poverty world-wide deserve better, and if our tech can help them live a more comfortable life, we won’t hesitate to provide assistance. We view technology as a means to end, and not an end goal by itself. And one of the worthy end goals technology can help with is the complete eradication of extreme poverty world-wide.
According to Fintech’s CTO, Fritz Ekwoge,
It’s always very interesting to see practical life-saving use cases for blockchain, especially using tech we built.
To get more info on how Interstellar is being used at GiveDirect, check out the following blog post from GiveDirect: https://givedirect.io/2018/05/19/interstellar-wallet-brings-security-and-ease-to-givedirect/
For more information on Fintech Ltd and its blockchain solutions, please visit the links below:
For more information on GiveDirect, please visit the links below: