“With traditional NGOs, it’s not that at all,” Cole said. Overhead costs and administrative fees for traditional donation methods can eat up as much as 30% of the cash value. “I was, like, why can’t we do this with Oxfam or any of these other NGOs?” Cole said when he and Williams reached out to humanitarian aid organizations, they found that the organizations were struggling with major technological challenges in running their cash transfer programs.
Source: https://www.coindesk.com/consensus-magazine/2023/04/17/humanitarian-aid-transformed-crypto-startup-sempo/?utm_medium=referral&utm_source=rss&utm_campaign=headlines