The company uses digital identities and blockchain technology to provide international assistance and payments
Financial services company AID:Tech announced Yesterday, we announced that stablecoin issuer Circle’s payment rail will be used to provide fraud-resistant disaster relief supplies at 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 provide international aid in 2015.
People in need can use AID:Tech’s technology to directly access and receive data and payments, and the company is helping development banks, government agencies, and charities such as St. Vincent de Paul Disaster Services and Women’s World Banking. I have worked with groups.
Elizabeth Disco-Shearer, CEO of St. Vincent de Paul Disaster Services said:We conducted our first highly successful pilot with AID:Tech in Florida in 2018 to explore the power of blockchain and how it can help deliver more disaster services faster. Let us see if it helps. Grateful to work with AID:Tech and see how new financial solutions can make a difference”
Users of AID:Tech’s digital identity and blockchain technology will be able to onboard beneficiaries with options for document submission, self-verification, and individualized case management. Payments can be made via cash, payment cards, vouchers or directly to a digital wallet. Organizations can also collect data on the spending habits of beneficiaries.
AID:Tech co-founder and CEO Joseph Thompson said of the new collaboration:Working with AID:Tech’s Circle will accelerate our ability to provide seamless and transparent payment transactions between humanitarian organizations, merchants and those in need of rapid access to funds. In a disaster, money matters and timing is everything. This collaboration gives AID:Tech the opportunity to make a meaningful impact when people need it most.”
The speed, convenience, and global nature of digital assets make them ideal solutions to many real-world problems, and by leveraging USDC, AID:Tech is helping philanthropic programs, government spending, and natural Assistance delivery to disaster victims can be streamlined.
Circle co-founder and CEO Jeremy Allaire commented:Working with AID:Tech to provide relief funds through USDC to those affected by natural disasters and help connect underserved individuals to financial instruments is very rewarding. there is. This is the application of the mission you set out to accomplish when you began your journey with the Circle.”
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