A missing link in social giving: A SocialFi platform based on the gold standard

cointelegraph.com:

While social giving is seen as a key element in supporting the international development agenda, managing donations requires end-to-end clarity on the movement of funds. In its current state, donation management lacks reliable traceability features, making it difficult for donors to understand how their contributions are being used. The lack of transparency, coupled with the inefficient bureaucratic processes of cross-border fund transfers, creates a barrier that discourages potential donors from reaching out to regions in need.

Blockchain offers a dependable solution to the struggles encored by the social giving landscape. Because every transaction made on a blockchain is publicly traceable, donors can easily track where their donations end up. However, even with a reliable blockchain that provides transparency along the social giving process, there’s still a missing link in ensuring the recipient gets easy access to the funds. Since crypto is not widely accepted as a payment method, recipients need a fiat off-ramp to convert donations into local currency.

To address this issue, the Fruits Eco-Blockchain Project announced the launch of a series of local crypto exchanges, starting with Tanzania. Slated to launch in June, the Fruits Gold Exchange Global (FGXG) crypto exchange is being built with the aim to contribute to financial inclusion by enabling swaps from FRTS, the native token of the Fruits Eco-Blockchain Project, and other funds into assets, such as cash. This will ensure people in need can benefit from crypto donations received through the Fruits ecosystem in their daily lives by converting them into fiat currency. The Fruits team also aims to have people use the FGXG exchange as a fiat on-ramp, swapping local