Today, we live in a world where charities and non-profit organizations (NPOs) are many and
varied. There are charities and NPOs that specialize in healthcare, disaster response, fighting
hunger etc. In Canada, there are 86,000 registered charities that take in donations from the
general public. In 2020, every household gave an average of $2,520 to charities of their choice.
A big cause for concern for many donors is how the donations are being used? How much
money is being used to pay board members' salaries and other inefficiencies? Blockchain is the
answer to this problem. By design, blockchain technology allows for donations to be traceable,
accountable and transparent.
When considering the efficiency and success of a charity, various metrics can help. The impact
that every dollar donated has, qualitative work that has been done by the charity, and the number
of volunteer hours that the charity has coming in from its volunteers. The latter can be measured
by blockchain technology. BCHARITY has designed the VHR token for this purpose. Every
volunteer hour done is represented by 1 VHR token. Using VHR can allow for donors to
measure the amount of volunteer hours and the efficiency of the charity or NPO’s volunteer
management program.
The VHR token will solve the problems of the typical donation problems of being
unaccountable, untraceable, and untransparent.