The Smart Donations app is the output from research into using smart contracts for blockchain enabled conditional giving. It allows users to donate money directly to charities with a number of conditions attached upheld with the use of smart contracts.
For example a contract may look like this,
I donate £100 to Oxfam earthquake response fund which will be released if there is an earthquake over a magnitude of 6 anywhere in the world in the next 12 months. After 12 months, if there has not been an earthquake, then the donor has a number of options;
- To withdraw their donation and keep the money
- To donated it directly to the charity's general fund
- To renew or create a new contract with the same charity through the app
- To create a new contract with a different charity through the app
There are a number of benefits to both the charity and the donor when donating through this system;
- Prior to an emergency happening the charity know how much they have sitting in the 'pot'
- There is no delay in the event of an emergency happening and the funds being released. Compare this to the current situation where charities have to fundraise after an event happening.
- It allows personalisation of donations for the user.