Blockchain News- Financial aid in the form of USDC on the Stellar network will be made available to Ukrainian.
- The USDC tokens will be tradable at any MoneyGram station.
More and more humanitarian organizations are turning to blockchain technology to address issues like a lack of financial infrastructure or poor identification verification in conflict- or developing-zone countries.
In December, two new initiatives were announced. One gives financial assistance to Ukrainian refugees via the Stellar network. While the other intends to provide financial assistance in the form of cash and vouchers through the Partisia network.
However, the outcomes of previous blockchain ventures have been inconsistent. While blockchain has been useful for certain enterprises by eliminating unnecessary middlemen. Although it has not proved beneficial for others.
Much-Needed Aid to Refugees
Moreover, financial aid in the form of USDC on the Stellar network will be made available to Ukrainian refugees via cooperation between the Stellar Development Foundation and the United Nations High Commissioner for Refugees (UNHCR), as announced on December 15.
The USDC tokens will be tradable at any MoneyGram station. The program’s developers hope that this will make it simpler for refugees to get help even if they don’t have bank accounts or can’t get into the ones they do have.
The demands of humanitarian groups providing help in challenging circumstances were prioritized throughout the development of this product. That’s why it can’t be a gimmick or something that falls apart in practice. Money from donors is among the most closely tracked in the world.
Partisia Blockchain Foundation and the International Committee of the Red Cross hosted a “hackathon” on December 2. The purpose of the meeting was to brainstorm ways in which the Partisia network might be used to streamline the Red Cross’s ability to disburse humanitarian relief funds.
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Source: https://thenewscrypto.com/stellar-collaborates-with-unhcr-to-provide-financial-aid-to-ukrainians/