How AID:Tech’s Digital Wallet is Merging Digital Identity With Payments
Dublin, Ireland – May 1, 2023 — Blockchain-based company AID:Tech is leading the transformation of foreign aid through the use of digital wallets and blockchain technology. In a recent episode of “Gossip About Gossip,” Zenobia Godschalk, the SVP of Communications at Swirlds Labs, interviewed AID:Tech’s COO and Co-Founder, Niall Dennehy, discussing his background in blockchain and the innovative methods of delivering aid.
Foreign aid is the practice of providing resources and monetary funds to countries in need, which has been in practice for decades. The use of digital wallets and blockchain technology offers new possibilities for transferring aid. AID:Tech has already been utilized in remittances and healthcare sectors, and has proven to be successful in refugee camps.
Dennehy shared that 30 percent of aid goes missing annually, but AID:Tech’s solution aims to bring traceability and transparency to the process. “We soon realized that there are over a billion people on the planet without any form of digital identity – identity for that matter,” said Dennehy. “If you combine and merge digital identity with payments, and focus on the value proposition of traceability and transparency, you can create some compelling use cases.”
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