AID:Tech - blockchain to trace international aid

by Startacus Admin

AID:Tech - The lowdown on the startup that's using innovative blockchain technology to create transparency in international aid...

Dublin startup AID:Tech has the answer: blockchain. For a quick breakdown on what blockchain is, have a look at this article. Due to the nature of blockchain, donations in the form of money or vouchers can be sent via the AID:Tech platform with unalterable records. This means it can bypass fraud and corruption and theft and go straight to where it is meant to be.
Using AID:Tech, donors can not only trace their money to the charity, but they can also see where it went after that, and what it was spent on. Although at first glance this may seem a little 1984 meets Minority Report, it actually means that there is total transparency in things like international aid, making scandal and wild accusations and outright lies about what is being done with aid easily sorted out.
The seed of the startup was planted when one of the AID:Tech co-founders ran a 151-mile marathon in Morocco and raised $122,000 for charity. But when he called to make sure that money had reached its destination, no one could tell him where it went. Just like the aforementioned 30%, it had simply vanished.
The UN has a set of Sustainable Development Goals, backed by 193 countries with the aim of solving them by 2030, which AID:Tech can also assist with. For example, one of them is to reduce the fees of sending aid across borders - which can even be over 20% - to under 3%. It can also make a huge difference to health and well-being, with another of these goals being to end preventable deaths of newborn babies. Blockchain can help with this using smart contracts and by distributing healthcare entitlements. They are already doing this in Tanzania with a Holland-based partner.
AID:Tech were winners of the top startup award at the recent GovTech summit in Paris, organised by PUBLIC and recently won not only the IT and Fintech Award, but also the overall Innovation of the Year Award at the Irish Times Innovation Awards 2018. They add these to their Global Game Changer Award from #CitiT4IChallenge.
It really goes without saying that all of this is extremely worthwhile, and we are excited to see the continued growth and success of AID:Tech.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Karen Meager, co-founder of Monkey Puzzle Training shares some insights on how leadership has changed in the last decade, and what it takes to be a great leader today.

Freight rate management platform Freightify raises Series A investment to support further international growth and mission to help more freight forwarding companies digitize their operations.

Crowdfunding success for Omni, the vegan dog food brand, reaffirms the recession-proof growth of the pet nutrition industry.

Want to learn a new language? Weeve is an innovative startup that has created an innovative, creative and effective way to help you do just that.

Want to build an investable, scalable tech startup? The Raise Accelerator programme is now open for applications and will help you do just that.

Want to increase visual engagement for your startup's Instagram account? These tips will help you do just that.

Fashion innovation thanks to Italian Artisan and its B2B one-stop marketplace that connects international brands with hard-to-get authentic artisans.

Want to gain an edge over your business competitors? Listening to your audience is an absolute must.

The Clothes Doctor mission to fight fast fashion continues as the innovative eco clothing care brand raises £1m to support further growth.

If you plan on using social media to promote your brand, these simple rules will help, increasing both brand awareness and the number of consumers.
Published on: 25th November 2018
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- Freightify secures $12M funding round to power digital transformation for freight forwarders 2nd Feb 2023 Freight rate management platform Freightify raises Series A investment to support further international growth and mission to help more freight forwarding companies digitize their operations.
- Vegan Dog Food Brand, Omni Smashes £400K Crowdfunding Target 1st Feb 2023 Crowdfunding success for Omni, the vegan dog food brand, reaffirms the recession-proof growth of the pet nutrition industry.
- Raise Spring Accelerator programme seeking applications for next cohort 30th Jan 2023 Want to build an investable, scalable tech startup? The Raise Accelerator programme is now open for applications and will help you do just that.
- Leading French Travel Co. Offers Mentoring to two UK startups on its prestigious two-month programme 23rd Jan 2023 High-potential social impact startups from the UK sought for the 9th annual Les Tremplins by Voyage Privé programme.