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Method to Manage Gift Intention

IP.com Disclosure Number: IPCOM000250467D
Publication Date: 2017-Jul-23
Document File: 2 page(s) / 131K

Publishing Venue

The IP.com Prior Art Database

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Method to Manage Gift Intention

Disclosed is a method using blockchain to provide an auditable end-to-end view of a gift to a charity.

For proof and auditing, as well as fraud prevention, an efficient system is needed to track and access instances of donations provided by organization(s), individual(s) or a corporation(s) (i.e., donor) to charities, non-profit organizations, scholarship funds, individuals, or campaign contributions (i.e., beneficiary). A traceable gift lifecycle can serve as proof to meet audit tax needs and reduce or eliminate gift receipt fraud. Charitable organizations could benefit from having an end-to-end view of all donations received via the transaction conduit. A system is needed for a higher level of tracking electronic donations to improve visibility and verification for government charitable tax status and provide publicly accessible data to complete trending analysis and predict future donations, which would improve cost management.

The novel contribution is a method to use a ledger of pointers (i.e., a blockchain) to other ledgers (i.e., blockchains) as a means of providing an auditable end-to-end view of a gift to a charity. A novel mechanism notifies the beneficiary of the donor’s requested purpose for the donation. Once the gift is utilized, the request mechanism receives feedback from a blockchain to close the cycle. At this point, the donor sees how the beneficiary utilized the gift.

To implement the blockchain method to provide an auditab...