Today organizations such as UNICEF spend more than $900 million in aid annually on water, sanitation and hygiene projects globally to respond to these conditions.
A significant portion of this aid, however, never reaches those in need. Aid funds are used to maintain organizational structure, allocated to projects through bureaucratic mechanisms and, unfortunately, there are waste and inefficiency in last mile financial supply chains.
Furthermore, lack of data and opacity of economic pathways between sources of aid and air recipients discourages both organizations and private individuals from donating more to realize critical humanitarian goals.
BANKEX has responded to these issues with WaterCoin, a token based water supply project that securely connects donations from sources worldwide directly with families in Narok, Kenya that need water.
The project eliminates intermediaries in the charitable giving supply chain and presents an entirely new perspective on providing aid that could not only save millions of dollars but millions of lives.
A unique feature of WaterCoin is that it is a true utility token. This means that WaterCoins can only be redeemed for water and so the potential for waste and other forms of abuse is greatly reduced.
Check Watercoin website to see how this project already works: