Algorand Forms Humanitarian Alliance with Global Fintechs to Enhance Cash Assistance via Blockchain

Algorand has partnered with global fintech companies to establish a humanitarian alliance aimed at leveraging blockchain technology for efficient and transparent cash assistance. The alliance includes members such as the Algorand Foundation, Circle, Worldpay, Mercy Corps Ventures, HesabPay, and the United Nations Development Programme. The initiative focuses on decentralization, immutability, transparency, traceability, and verifiability of blockchain to enhance the efficiency and accessibility of cash aid during humanitarian crises. The alliance also aims to provide recommendations for using blockchain technology for aid payments to UN agencies and NGOs and to develop a roadmap for successful blockchain-based cash assistance programs in impoverished areas. HesabPay, a global payment application built on Algorand, has demonstrated the effectiveness of integrating blockchain with cash assistance, supporting over 14,000 families in Afghanistan in collaboration with the UN World Food Programme.