Yesterday CARE USA, a leading humanitarian organization delivering poverty relief, announced that it has partnered with the public blockchain Celo for its first blockchain project in Latin America.
With Celo’s mobile-first stablecoin platform, CARE aims to achieve a quicker, cheaper and more traceable way of delivering aid. Celo’s cUSD stablecoin will be used for a voucher-based system to disseminate humanitarian aid to Ecuadorian women in need of health services.
Blockchain enables quicker reconciliation and real-time analytics and despite being a public blockchain, Celo allows for fast payment finality. Transferring funds via the blockchain will also bypass financial intermediaries, reducing cross-border operating costs.
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