Karma - Blockchain based charity foundation platform

Abstract

Charity plays an essential role in our society, and often recognized as a type of social debt, leading to the circulation of a significant amount of money worldwide. We have witnessed increased growth of non-commercial organizations and public charity funds through recent years, collecting donations for various philanthropic needs. Unfortunately, charity funds frequently gain much traction from the unscrupulous organization, resulting in significant damage for industry's reputation, reducing trust level, affecting the ability to raise donations. We strongly believe that utilizing blockchain technology will boost trust, increase efficiency, and encourage more donations.The Karma-Token project, a blockchain-based charity foundation platform that facilitates the trustful network's formation and is accountable for collecting donation funds. The blockchain network would be comprised of publically known, trustful, and prestigious organizations. All organizations' operations within the platform will become fully transparent and visible, leveraging properties of immutability, provenance, and non-repudiation. Therefore the platform will alleviate the results of dishonest actions, revealing fraudulent organizations' activities.