Stellar Development Foundation, International Rescue Committee pilot blockchain-powered aid system in Ukraine Stellar Development Foundation, International Rescue Committee pilot blockchain-powered aid system in Ukraine
The IRC and the Stellar Development Foundation are piloting a blockchain-powered cash disbursement system in Ukraine.
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Updated: Dec. 15, 2022 at 5:35 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The International Rescue Committee (IRC) and the Stellar Development Foundation (SDF) have partnered to pilot a blockchain-powered cash disbursement system in Ukraine.
The pilot, called Stellar Aid Assist, uses the Stellar blockchain to deliver relief funds to individuals in crisis using USD Coin (USDC). The system allows users to receive, store, and transport funds securely, and offers a more efficient and transparent way of distributing aid compared to traditional methods.
Commenting on the future of the partnership, CEO and Executive Director of the SDF, Denelle Dixon, said:
“Our mission at SDF – creating equitable access to the global financial system – is about using technology to reach people where they are and when they need it most. That’s why we are proud to partner with the International Rescue Committee and together, pioneer the future of aid delivery on the Stellar network with Stellar Aid Assist.”
The IRC and SDF aim to reach 100 people in southeastern Ukraine through the pilot, which has the potential to lay the groundwork for future financial innovation in the humanitarian sector.
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Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium.
Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization founded in 2014 to support the development and growth of the open-source Stellar network.
Circle
Circle Internet Financial Ltd is a global internet finance company, built on blockchain technology and powered by crypto assets.
Denelle Dixon is the CEO and Executive Director at Stellar Development Foundation, a nonprofit organization based in San Francisco, that was founded in 2014 to support the development and growth of the open-source Stellar network.