First Case Study By Bitcoin Charity Platform Helperbit
There are around 300 people killed and 22,000 inhabitants displaced by the devastating earthquakes that hit the central Italy in the last few months. Since then, the environmentalist association Legambiente and many partners have collaborated for a crowdfunding campaign that faces trouble due to the earthquake.
Helpbit that is a startup in Italy uses Blockchain technology for allowing the individuals to donate local and digital currencies to the charities and people who need it around the globe. They also track the donations in the manner they used to do it.
The idea was put forward by the company co-founders Davide Gessa, Roberto Tudini, Gianluca Carbone, Davide Menegaldo, and Guido Baroncini Turricchia in the year of 2009 after reading the news related to the inadequate management of charitable funds after the L’Aquilla earthquake in 2009 in Italy.
As per the Italian il Fatto Quotidiano, there are around five million euros donated by citizens of the country for assisting the reconstruction of the building. These funds were transferred to a guarantee fund that locks them for nearly nine years.
Helperbit launches in 2015 and provides a bitcoin platform for the donation of the digital and local currencies to the charities across the globe. The funds and the manner can be traced in the way they used to be.
A specific case study for the Helperbit platform offered by the recent fundraising campaign. The funds from this campaign are being provided to the local entrepreneurs. According to the Helperbit, they are looking for the support and promotion of their economic works and finance projects after the earthquake tragedy.
The Central Italy’s earthquake has taken away all the things from the Ilaria and Lorenzo among the many affected locals. The first invoice was uploaded by the farmers on the Helperbit that activates a refund request from Legambiente. The majority of the process can be seen in the public Bitcoin Blockchain that consists of the expenditure proof along with a reference of cryptographic to the invoice.