Token Tagging
Fraud Detection
Real-time Audit
Mobile Money
How does it work?
After a grant is approved, instead of directly sending money to the target region governing body, the grant issuer first tokenizes this grant and disburses the tokens (called QX® ) to that governing entity which in turn disburses the tokens to the next level entities. The process of disbursement ripples through layers of governing agencies; and eventually the tokens reach end beneficiaries. Upon receiving grant tokens, the end beneficiaries request redemption for cash. The system connects the banking account of each actor in the network so recipients can have full amount of funding automatically and directly deposited into their banking accounts if redemption is approved.
* QX® is the on-ledger token denominated by a FIAT currency.
Issue a grant
Use a grant
Mobile Money
Convenient mobile money supports cashless touch-free shopping Secure authentication with multifactorial identification
Serve the unbanked and underbanked in marginalized localities
Offline mode offers Internet-scarce operation
Coming soon...
Google Play
Coming soon...
App Store
Case Studies
International Humanitarian Aid Disbursement
An International Development Bank gives $80 million grant to an Africa country government for child health and nutrition intervention.
Trace the entire disbursement graph and visualize the traceability path from different viewpoints.
Crowdsource fraud detection for last-mile corruption through public disclosure.
Mechanism is provided to manage public reports and handle users’ disputes.
Blacklisting and technologies for fraud and abnormality.
Much improved risk management in grant disbursement.
Small Business Stimulus Action Implementation
Government COVID job act for small businesses: $10,000/person-month to small businesses to create jobs. The money can not be used for anything else but for salary of at least one person.
How to inexpensively and automatically make sure that the company does not use this money for anything else? How to make grant non-fungible to be used only for intended purpose?
A license-permission model to ensure that only the qualified employees can redeem the token for cash.
New employee benefits to government automatically verified to make sure the company indeed uses the money for new hires.
Grant Funded Project Execution
National Funding Agency allocates $1 billion vaccine research grants, distributed to 26 states, which then to 70 cities, then to 200 universities, and then to 450 professors, requiring 40% used for equipment purchases, 40% for student support, and 20% for conferences (lodging, transportation, and registration).
Tagging Methodology: each token is tagged for its intended spending category and allowance.
User role: recipients have their user role and expense category defined in the registration profile.
Smart Behavior Regulation: spending behavior of recipients and disbursers are therefore regulated by smart contract.
Trace not only who the end recipients are, how they get money, but also what and how much they receive, and to the allowance set for them.
No posterior report production necessary (saving 40%).
Transparent, traceable, corruption-free, and can be monitored, audited, and analyzed real-time.
Government Internal Budget and Expenses Tracking
A small island country government puts the country’s yearly fiscal budget on Blockchain and then disburses the budget through layers of government entities.
Mobile Cash Distribution in Rural Regions
A Regional Development Bank gives $1 million to Peru highlands for COVID relief.
People located in remote villages have difficult access to banking services, ATM, and grocery stores.
Mobile money enables direct purchase with food and necessities without using cash
Offline operation mode enables roadside stand purchase in the mountain without the Internet coverage.
Cashless mobile money avoids person to person congregation.
Government Blockchain Association Blockchain for Grant Management Workshop Meeting Interview
This interview notes explain the theoretic underpinning why Blockchain is the right technology for multi-layered grant disbursement, and why only Blockchain can disrupt opaqueness and inefficiency of current grant disbursement practice.
April 12, 2021
A Token Framework with Settlement Mechanisms to Enable Traceability of Credit Disbursement in Public Fund and Contract Management
This work is a collaborative submission entry to the IMF Anti-Corruption Challenge with Senior Procurement Specialists Shawkat M. Quamrul Hasan and Hunt La Cascia at the Department of Governance Global Practice of The World Bank. The submission can be viewed via this link:
January 4, 2020
GovTech: Blockchain Enabled Integrity and Prosperity in Procurement Supply Chain Eco-System
This is a meeting summary of Governance GP Learns seminar at The World Bank Organized by the E‐Procurement and Data Analytics Community of Practice and GovTech. The meeting included participants from GOV GP All Staff, GOV GP CoP E‐Procurement and Data Analytics, Gov GP CoP Digital Governance, GGP‐SIP‐Practice Managers, GGP‐SIP‐All, GGODA Management Team, GGODZ HQ, GGODA HQ Staff, GGODZ Regions PMs, DFI All Staff, Blockchain/Innovation Lab, GOV GP CoP Procurement for Development, GOV GP CoP Procurement in Operations, SFTAS Team, CorpProc Chennai, CorpProc HQ, and OPSPR Roster.
June 5, 2019