AID:TECH AWARDED $100,000 GRANT FROM THE GOVERNMENT OF DUBAI
Aid Technology, a global innovator for Expo 2020, based in Dublin, has been awarded $100,000 grant which it will use to deploy Blockchain technology in a groundbreaking welfare project in Jordan. As Expo Live Vice President Yousuf Caires stated, “Using technology to provide people with a legal identity is hugely important. And what is amazing it that it unlocks a whole host of services where were previously unavailable to billions of people. What we are particularly interested in is the ability of blockchain to bring transparency to foreign aid and charitable giving, which is helping millions of people worldwide each and every day. It is making a difference, but in order to go on doing so, donors – whether governments or individuals – want to know how their money is being spent, and that it is being spent well. AID:Tech’s application of blockchain technology to achieve this is a simple solution that addresses this challenge.
These are real change-makers addressing our world’s most pressing challenges; they are visionaries who are determined to see their projects bring meaningful change to those that need it. We are fortunate to have them on our program and look forward to walking by their side on their path to success.”
Joseph Thompson, CEO and co-founder of AID:Tech, said: “Our solution brings identity to the unidentified, of which there are 2.4 billion people in the world right now. It gives them a ‘financial voice’ and connects them with important services like welfare, aid, donations, remittances and insurance. It also gives humanitarian organizations and governments the ability to sidestep costly middlemen, to access and verify critical information, and to track the flow of funds and resources from donation through to delivery. “We are delighted to receive this grant from Expo 2020 Dubai, which will provide operational support to the technology through global partnerships.” AID:Tech is also supported by Irish Government Agency Enterprise Ireland.
Speaking from Dubai, Mike Hogan – Manger, Middle East & North Africa also added: “Enterprise Ireland are delighted that AID:Tech, an Irish company, have been selected as one of the Global Innovators as part of Expo 2020 Dubai. Through our support of the company on their project in Lebanon, we recognized the ability of the team, and their innovative Blockchain solution, to have a wide ranging social impact and it is great to see AID:Tech getting further recognition and support for the work it is trying to do”
The EXPO will attract 25 million visitors over a six month period in 2020. AID:Tech was one of 29 winners of the social entrepreneurship grants. Winners were selected from 575 applications, from 71 countries, in a three-stage selection process.
AID:Tech hopes to maintain trust and empower recipients to build their own credit profile. AID:Tech's innovative solution is based on Blockchain technology - which allows each and every transaction to be recorded and verified digitally - cutting down on fraud and misappropriation of funds. It allows governments and humanitarian organizations to sidestep middle men and ensure that welfare, remittances, aid and social services gets to a beneficiary in a ground-breaking way.
Expo 2020 Dubai’s Expo Live program has an allocation of USD 100 million to back projects that offer creative solutions to pressing challenges that impact people’s lives, or help preserve the world – or both. Organizers are looking for projects that would not reach their full potential without its support