The global charity CARE has created crypto-based vouchers that will be distributed to women and selected groups in Africa and Latin America. According to CARE, these vouchers can be redeemed for goods, services or cash and are linked to the needs of the recipient.
In its declaration at the start of the pilot phase, however, the NGO states that only groups in Kenya and Ecuador will take part. In Kenya, the vouchers go to the “village savings and loan associations that are coping with the economic effects of COVID-19”. In Ecuador, the crypto vouchers are being distributed “to survivors or women at risk of gender-based violence”.
Project started in partnership with crypto organizations
Regarding the launch of the voucher, Christian Pennotti, Senior Director for Market-Based Approaches at CARE said:
We’re excited to be working with Celo and Emerging Impact in Ecuador and Binance’s Blockchain Charity Foundation in Kenya to test new ways these technologies can help people cope with crises.
In addition to working with established crypto organizations, says CARE, a separate partnership with Lab for Inclusive Fintech (LIFT) will “shape the design of a rigorous experimental evaluation of blockchain technology as a viable and effective option for delivering aid in developing countries.” The NGO also reveals that the pilots in Kenya and Ecuador will “hold focus groups to better understand trust, information barriers, and the uses and opportunities of stablecoins”.
However, while CARE says it is aware of the risks that can be associated with cryptocurrencies, the NGO insists that its interest be limited to the potential of this technology.
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