Bitcoin, Crypto currency, Blockchain

Bifrost: New payment channel for donations on the Blockchain

a8a1728d2ae263f434da595518f58996 - Bifrost: New payment channel for donations on the Blockchain

With Bifrost, a crypto-to-Fiat payment channel to simplify the payment opportunities for utility organizations. This closed ConsenSys with MakerDAO and Dether.

Blockchain and help organizations fit together as far as well – more and more companies realize this and to rise on the Blockchain and crypto-currencies to facilitate the payment transactions between donors, organizations and the needy.

So, the new project Bifröst. The Blockchain-business ConsenSys, MakerDAO and Dether have now joined forces to create a payment channel for humanitarian organizations. So you should be able to handle payments via the Blockchain better and more efficiently. So the Bifrost to allow, first, that donations are received in the crypto – currencies-in the country of destination, however, in the currency paid. So they wanted to come, especially the volatility in prices. For the technical infrastructure MakerDAO:

“MakerDAOs Mission is to make the Power of the Blockchain is available to everyone. We want to form an inclusive platform for the economic environment and thus, in principle, any access grant“,

so Christensen, CEO of MakerDAO Rune.

Blockchain-donations are more effective and faster

According to the press release, it is expected from the proposed System, that donations arrive in less than three days to the beneficiaries. Also in the case of transactions for significant savings should be possible. Bifrost is supposed to allow you to donate with less than one per cent transaction fees. At the moment, it could take between three and four weeks, until the donations reach the recipients:

“The Expansion of emerging technologies in the humanitarian sector helps us to respond to global issues in an innovative way. It is important that we do that with projects like Bifrost, to find […] the most effective solutions. We are honored, this project not only with MakerDao and Dether announce, but also with the Human Rights Foundation to work together. The latter played a key role in the early stage of the project“,

Ben sails from ConsenSys said.

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