Vageesh Potnis, a blockchain developer and philanthropist, is revolutionizing the practices of charitable donations. Through blockchain technology, Potnis has created a new approach that ensures that well-wishers’ donations reach the target cause more securely, especially in climate change and social work.
Revolutionizing Philanthropy with Blockchain
Potnis, who has been and still is a climate tech and social advocate, comes out as one of the first people who wanted to make use of blockchain technology in charity endeavors. His approach involves removing the existing impediments that are present in the charity industry such as transaction costs, transaction speed, and invisibility.
Thanks to the development of blockchain-based donations, people can always track their funds and their ultimate utilization. “In future, giving will be able to stand on its own, conflicts will be over because of accountability,” adds Potnis. “That is why I say through the blockchain we can make every stage of giving transparent to the donor and therefore many more people would be willing to contribute.”
The Power of Crypto Donations
Central to this innovation is the capacity to contribute money using electronic currencies such as Bitcoin or Ethereum. As highlighted by Vageesh Potnis’ initiative, thanks to its many partners around the globe, it is possible to receive crypto donations – effective and faster methods of sending money than traditional banking systems.
“Cryptocurrencies alleviate a lot of the back and forths of international charity,” Potnis states. “We can even get to places where conventional finance is either slow or hard to come by such as developing nations where social and environmental issues are most in need of help.”
The Road Ahead
Although this idea is only being adopted in some regions, Vageesh Potnis believes that it has scope for growth. At the moment he is negotiating with various international non-governmental organizations to take the reach of his cloud-based technology further. What is his next move? The formation of decentralized governance for charity funding through a remodeled charitable giving where donors are allowed to make a choice on the funded projects.
As Vageesh Potnis continues to redefine philanthropy through blockchain, his work is a testament to the potential of technology to solve global challenges. “This is just the beginning,” he says. “We’re building the foundation for a new era of giving—one that is secure, transparent, and limitless in its possibilities.”
