According to UN Secretary General, Ban Ki-moon, around 30% of charity donations are lost each year due to corruption. This means that $3 dollars/hryvnia/euro out of every $10 donated gets lost to bad actors and do not reach final addresses. In the USA, this sum is about 120 billion dollars a year. At the same time, corruption affects even larger organizations such as the International Red Cross which have recognised regular “disappearances” of funds from their accounts. In 2016 IRC “lost” one and a half billion dollars intended for the aid of those affected by hurricane Mathew in Haiti.
CryptoHeroes was founded by Anton Bosenko (NEM Foundation Council Member) after he discovered how fraudulent the not-for-profit sector was and that something needed to be done. After seeing the potential of blockchain technology to help bring trust and transparency to the sector, Anton set out on creating a charity project built on honesty and trust. Using the NEM blockchain, donors can track transactions and ensure the funding goes to the right place with documents being certified on the immutable blockchain.
CryptoHeroes is building the foundation to show how other charity projects can use blockchain technology to rebuild trust with the community and to help bring awareness to much needed philanthropic initiatives. Our charity projects are listed on our website with more constantly being added once the targets are reached. You can choose which project(s) you want to donate to and track the progress of funding.