The International Rescue Committee (IRC) and the Stellar Development Foundation (SDF) have partnered to pilot a blockchain-powered cash disbursement system in Ukraine.
The pilot, called Stellar Aid Assist, uses the Stellar blockchain to deliver relief funds to individuals in crisis using USD Coin (USDC). The system allows users to receive, store, and transport funds securely, and offers a more efficient and transparent way of distributing aid compared to traditional methods.
Commenting on the future of the partnership, CEO and Executive Director of the SDF, Denelle Dixon, said:
“Our mission at SDF – creating equitable access to the global financial system – is about using technology to reach people where they are and when they need it most. That’s why we are proud to partner with the International Rescue Committee and together, pioneer the future of aid delivery on the Stellar network with Stellar Aid Assist.”
The IRC and SDF aim to reach 100 people in southeastern Ukraine through the pilot, which has the potential to lay the groundwork for future financial innovation in the humanitarian sector.