CARE, a Ngo has launched crypto-based vouchers for women and vulnerable groups in Africa and Latin America, although, only Kenyan and Ecuadorian groups will take part in the trial phase.
CARE, a global humanitarian organization, has developed crypto-based vouchers that will be handed to women and other marginalized populations in Africa and Latin America.
These vouchers, according to CARE, will be redeemable for products, services, or cash and will be tailored to the requirements of users.
However, the NGO indicates that only Kenyan and Ecuadorian groups would take part in the trial phase in a statement marking the start of the program.
The vouchers will be distributed in Kenya to “village savings and loans societies dealing with the economic consequences of COVID-19.” The cryptocurrency vouchers will be given out in Ecuador to “survivors or women at risk of gender-based violence.”
The project has been launched in collaboration with crypto organizations.
Christian Pennotti, CARE’s senior director for market-based methods, said of the voucher launch:
We are excited to be working alongside Celo and Emerging Impact in Ecuador and Binance’s Blockchain Charity Foundation in Kenya to test new ways that these technologies can support people to navigate crises.
CARE says a separate partnership agreement with Lab for Inclusive Fintech (LIFT) will “inform the design of a rigorous experimental evaluation of blockchain technology as a viable and effective option to deliver aid in developing countries,” in addition to working with established crypto organizations.
According to the NGO, the Kenya and Ecuador pilots would “conduct focus groups to better evaluate trust, information obstacles, and stablecoin use and opportunities.”
While CARE acknowledges the risks involved with cryptocurrencies, the organization believes that its interest will be confined to the technology’s potential.
