AID:Tech provides blockchain-based technology and planning solutions to help governments, non-governmental organizations (NGOs), and charities with humanitarian aid funding.
More than $1.1 trillion of aid funding is lost each year to waste, inefficiencies and illegal outflows, and more than 2.5 billion people in the world today have no legal identity, leaving them without access to legal, social and financial services. A Digital Identity solution helps make these services more accessible, while increasing transparency and efficiency of aid and financial services provision to cut back on waste and fraud. We have a real solution, powered by the blockchain, that delivers secure, transparent and tangible results.
Sustainable Development Goals: Our call to action.
We are proud to partner our technology with the UN Sustainable Development Platform, in close alignment with the UN Sustainable Development Goals 2030. Joint projects are bringing together experts from different regions and specialties with the common objective of sustainable development. We live up to the promise of leaving no one behind, which is an integral part of inspiration for our innovations with Digital ID. By using the power of the blockchain – our solution creates identities and transactions databases that are transparent and fraud-proof. To reflect on specific needs of our international aid partners, AID:Tech’s Digital ID solution works offline and in environments with interrupted or unpredictable power supplies.
Even a cursory glance at the UN’s 17 sustainable development goals (SDGs) indicates that anyone who thinks the aid sector will provide all the funds to make them a reality is likely to be quickly disabused of that notion.
How much will such a global undertaking cost? The figures for current aid budgets driven by the SDGs are mind-boggling and almost beyond comprehension. The most oft-quoted figures estimate that a social safety net to eradicate extreme poverty could cost $66bn (£43bn) a year, with annual investments in improving infrastructure (water, agriculture, transport, power) likely to rack up a bill of as much as $7tn globally. Source: The Guardian
AID:Tech’s revolutionary intelligent voucher solution was created to act as both a personal ID card and a debit card for remittances distribution and has the ability to be remotely managed and monitored. The technology facilitates retail-store voucher operation, with a mobile-like top-up functionality. Even when the power goes out, the vouchers can still be used by scanning a QR code. The system stores a digital record of a person’s ID on a smart card, along with an array of additional information such as electronic cash, social welfare entitlements and health records.
By scanning the Digital ID card, a government employee can see what language the person speaks, social services they are entitled to and who their family members are. The card can be topped-up remotely, acting like a mobile bank account, empowering the refugee to spend digital cash freely in participating stores.
AID:Tech’s Digital ID platform not only distributes aid instantly, securely and at a fraction of the cost charged by the alternative platforms, but also helps financially empower the undeserved and un-bankable. The platform can be paired with a range of predictive and real-time analytics tools that can help improve spending efficiencies, supply chain management, reduce fraud, and build a meaningful financial and credit history for their users. The latter aspect provides the early stage gateway for increasing financial inclusion.
Our platform isn’t a theory – it is a real platform powered and secured by the state-of-the-art blockchain solution.
We are proud to be currently testing in several countries. Our clients and partners include The International Federation of The Red Cross and Red Crescent (IFRC), The United Nations Development Program (UNDP) and Concern to name a few.