AID:Tech
AID:Tech is a digital identity platform coordinating blockchain humanitarian aid disbursement and volunteer response labor.
Website: https://www.aid.technology
HQ: Dublin, Dublin, Ireland
Active Markets: Global
Problem Addressed
Delivery of disaster relief funds is often complicated by a lack of transparency and administrative frictions slowing down the disbursement process for impacted communities in need.
Project Description
AID:Tech offers decentralized digital identity tools for climate finance and humanitarian aid delivery. AID:Tech’s Kare platform facilitates blockchain tracked disbursements to survivors, and dashboard tools for case managers applying for and managing relief efforts. Their digital wallet uses GPS location to connect survivors with aid, sending and receiving relief funds directly to their digital ID.
The project also offers a platform, Kaulana, for volunteers to develop, build, and be rewarded for their contributions. The Kaulana platform will allow volunteers to be rewarded with tokens and to build an on-chain reputation related to their volunteer efforts. AID:Tech finds that volunteer labor, especially as relates to disaster relief, is an uncaptured market. They intend to address this by tracking and rewarding volunteer efforts through their “Proof of Reputation Protocol.” With blockchain digital identity tools, AID:Tech’s Kaulana will reward volunteers with tokens and track efforts with NFTs, building a reputation for each individual’s digital identity.
Business Data
Status: Active
Constituency Served: Underbanked, NGOs, disaster victims, case managers, governments
Networks: Algorand, Hedera
Known Investors: EMURGO, Josue Estrada, Richard Wang, Nakhla VC, Affinidi, LongHash Ventures, Tribe, Blue Parasol Investments, Enterprise Ireland
Additional References: N/a
Progress to date
According to AID:Tech’s website, the company was the first in the world to deliver international aid using blockchain technology. AID:Tech has raised $10 million in capital and disbursed $300 million in funds. Disaster relief organization St. Vincent de Paul USA, leveraged AID:Tech’s Kare wallet to distribute relief funds and goods to residents in Tennessee and Florida impacted by disasters. Through a partnership with Visa announced in 2023, AID:Tech is now able to issue virtual debt cards through their platform.
Business Model
AID:Tech is offered as a SaaS-based model, incurring monthly fees by client partners per digital identity as well as a transaction fee.
Traction
AID:Tech boasts 500,000 users, over 60 global awards and $300 million in funds distributed.