510 x Tykn Press Release
510 is exploring the use of Blockchain in Humanitarian Aid with Tykn.tech.
The organization is looking for smarter and more efficient solutions to enhance aid when a natural disaster strikes.
510 and Tykn.tech are researching the potential of blockchain to improve cash based assistance. The organization aims to develop a system with a digital wallet that can be used to transfer money faster to those affected in a disaster area. With this money, those affected can purchase necessities like food, water and other relief goods. Today, the 510 data team of the Netherlands Red Cross and Tykn.tech are announcing their cooperation at The North American Bitcoin Conference in Miami.
In some specific cases, the Red Cross chooses to give money to those affected by a disaster to buy the things they need, like food. This process fosters the local economy, increases the resilience of the affected communities and reduces the need of food parcel distributions.
Safe and Efficient
510 and Tykn.tech are researching how blockchain technology can make cash distributions both safer and more efficient. The use of blockchain can, among other things, reduce the logistical challenges where cash distributions are involved. This makes the situation safer for both Red Cross field staff and those affected by the disaster. In parallel, the use of blockchain has the potential to lower overhead costs and accelerate the aid process. As each digital wallet could be linked to an individual, it would be easier to see who has or has not received aid.
“We know from experience that in some specific cases, giving money instead of relief goods works better. Blockchain could optimize this process. To insure we explore to the fullest, we have chosen to work with Tykn.tech”, says Stefania Giodini, team leader of the 510 data team.
“Because of my experience as a refugee, I know the importance of the responsible use of data in humanitarian aid. Working with 510 ensures we can create a process that meets the needs of those affected.”, says Tey el-Rjula, founder of Tykn.tech.
How and if humanitarian aid can integrate blockchain and what the practical implications will be is currently being researched.
St-Maarten has been heavily affected by hurricane Irma and therefore there are currently many Red Cross projects, both running and planned, that focus on recovery. 510 is building on the learnings of St-Maarten’s unique set of challenges and is investigating the potential of blockchain to positively impact these projects. The ultimate goal is to develop a system that can adapt to any type of disaster in any local context.