The UN will send financial aid to Ukrainians using the Stellar Blockchain
Stellar blockchain will enable the UNHCR to dispatch USDC to Ukrainian refugees in need. Who said crypto was a useless invention?
Stellar Development Foundation (SDF) announced its partnership with UNHCR to pilot a digital cash disbursement system powered by Stellar for Ukrainian refugees. The UNHCR protects refugees and those displaced by persecution or political conflict on behalf of the United Nations.
The primary goal of Stellar’s “Stellar Aid Assist” pilot project will be to deliver UN aid immediately. To achieve this goal, the company collaborated with Circle, MoneyGram International, and Vibrant. According to its website, Stellar Aid Assist is already delivering financial aid directly to the phones of qualified Ukrainians using the stablecoin USD Coin (USDC).
The UN and Stellar Aid provide assistance to Ukrainians
The UN can send money faster and cheaper with Stellar and Vibrant than with legacy channels. As the Ukrainian banking infrastructure suffers due to the war, the number of unbanked and underbanked people grows. We need a solution that does not depend on banks in this situation.
These digitally delivered cash grants are intended to provide an alternative to dealing with fiat money at a time when storing or moving physical notes may be difficult or dangerous.
IRC And Stellar Helped 33 People in December
To date, Stellar and the International Rescue Committee (IRC), an NGO dedicated to helping people persecuted for political, religious, or ethnic reasons, have assisted 33 of the 100 people they hope to assist by the end of December.
One of the benefits of using Stellar Aid Assist to send money to people in need is that the entire sending process is immediately tracked, preventing any theft or diversion of funds and delivering greater transparency to all donors.
According to David Miliband, President and CEO of the International Rescue Committee (IRC), this collaboration with Stellar has enabled it to offer new ways for Ukrainians to “receive much-needed cash assistance” by leveraging blockchain technology.
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