The AID:Tech origin story

The team at AID:Tech is on a mission to transform how humanitarian aid is collected and distributed by governments, NGOs and charities around the world. They believe that by leveraging web3 technologies including blockchain, they can truly revolutionize the way people and organizations connect with those in need and make contributions more effective and impactful. AID:Tech’s innovative approach not only solves the challenges of efficiency and transparency that plague existing aid and payment mechanisms, but also measures the direct impact these contributions have on those who are meant to receive it.

The idea behind AID:Tech can be traced back to a personal experience of one of its co-founders. In 2009, Joseph Thompson, co-founder and CEO of AID:Tech, ran the Marathon de Sable and raised a significant sum of money for charity. After the race Joseph wanted to see where his donation was going. His efforts were met with disappointment as he struggled to find the ultimate destination of the funds the raised and how much was actually distributed.

Joseph relayed his experience with his friend, entrepreneur Niall Dennehy, who shared his concern with how existing systems seemed to be opaque at best when trying to trace the flow of funds to those in need. With their backgrounds in technology and finance, they launched AID:Tech to address the inefficiencies and lack of transparency in global aid distribution.

The founders' familiarity with emerging web3 technologies including Bitcoin and blockchain sparked an idea: why not use an immutable, non-corruptible ledger to uniquely identify donors and recipients of aid while also tracking the movement of aid money and goods ensuring transparency and accountability throughout the entire process?

A proof of concept for aid delivery and transparency

AID:Tech made their goals clear from the outset: merge payments technology with a digital identity, with the aim of making the associated data transparent and self-sovereign. This approach would not only ensure that aid reaches its intended recipients but also provide donors with visibility into how their contributions are used.

The company's novel idea quickly gained recognition. In a global competition run by Citibank called the Tech for Integrity Global Game Changer Award, AID:Tech won from a pool of over 2,000 startups. This win, along with an award from Christine Lagarde, then head of the IMF, opened doors and provided the credibility needed to secure funding from high-profile philanthropic foundations.

AID:Tech's first project in 2015 was in a refugee camp in Lebanon, where they implemented a system using QR codes to associate identities with aid distribution. This project was a proof of concept that demonstrated the potential of their technology to transform the aid distribution process so that there is greater clarity and confidence in the flow of aid dollars – even in incredibly challenging environments.

As the company continued to evolve, it expanded its focus beyond aid distribution. AID:Tech began to explore how their platform could be applied to other, more diverse areas such as: remittances, welfare, and even social services. The common thread across all these applications was the underlying identity stack that AID:Tech had developed.

One of the company's most notable achievements was facilitating the birth of the "first baby on the blockchain" in Tanzania in 2018. This project, in collaboration with a Dutch NGO called Farm Access and funded by the German government, showcased how digital identity could be used to manage prenatal and postnatal care in sub-Saharan Africa.

AID:Tech's journey from 2015 to today has been one of continuous innovation and a total commitment to building on the success they have had with web3 technology for social good. By focusing on the intersection of digital identity, blockchain, and aid distribution, AID:Tech has truly developed a solution to make global aid more efficient, transparent, and effective.

Why Hedera?

The AID:Tech team’s decision to launch their platform on the Hedera network was both technical and philosophical. After years of experimenting with various blockchain technologies, AID:Tech found a solution with Hedera that not only provided the trust and transparency they required, but also aligned perfectly with their needs and values.

From a technology standpoint, the Hedera network proved to be the ideal platform for AID:Tech's mission-critical needs. Unlike traditional DLTs, Hedera requires exceptionally low transaction fees, a crucial factor considering the high volume of aid-related transactions that AID:Tech processes. Every dollar saved on transaction fees translates directly to more resources reaching those in need. Additionally, the Hedera network's unparalleled reliability eliminates the risk of downtime. Having uninterrupted service is critical during times when aid distribution is taking place. This is incredibly important for AID:Tech, as any disruption could delay or even halt vital assistance to vulnerable communities.

Furthermore, the inherent trust and transparency of the Hedera network align perfectly with AID:Tech's core values. This allows donors to track their contributions with confidence, witnessing exactly how their donations are used, fostering trust and encouraging further giving.

The credibility and enterprise-focus of Hedera was also a major draw for AID:Tech. The make up of Hedera's Governing Council, which includes highly reputable, global organizations, lends a level of trustworthiness that is crucial when dealing with governments and large NGOs.

Philosophically, Hedera's commitment to environmental, social, and governance principles (ESG) resonated strongly with AID:Tech’s leadership team. As a company focused on social impact, AID:Tech appreciated Hedera's emphasis on carbon neutrality and sustainable practices. Additionally, the development of Guardian, Hedera's solution for ESG and sustainability, was compelling to AID:Tech as they have an eye on future applications in climate change mitigation.

The support provided by the HBAR Foundation was another key factor in AID:Tech's decision. The foundation's understanding of the payments space and their mission alignment with AID:Tech's goals provided not just financial support, but also valuable partnerships and connections within the Hedera ecosystem.

Lastly, AID:Tech saw potential in Hedera's approach to decentralized identity, which aligns well with their own focus on self-sovereign identity solutions. The expertise of identity specialists working with Hedera further convinced AID:Tech that they had found the right platform for their future growth and innovation.

A more just and equitable future

Looking ahead, AID:Tech is poised for significant growth and innovation on the Hedera network. Thanks to their success to date, the team is expanding their focus beyond traditional aid distribution to encompass a broader range of financial inclusion and climate focused solutions.

One of the key areas of development is in parametric insurance. AID:Tech is leveraging its infrastructure and user base to offer embedded insurance products, providing a more comprehensive support system for disaster-affected individuals. This move into insurance represents a natural evolution of AID:Tech's mission to provide financial security and support to vulnerable populations.

AID:Tech is also bringing to market Klimify. Klimify is a climate data API that will both collect and analyze climate-related information to intelligently extract insights that will identify areas vulnerable to climate instability as well as provide risk assessments that inform public and private interests. The Klimify initiative aligns with their broader goal of contributing to climate change mitigation efforts.

As part of their commitment to expanding financial inclusion, AID:Tech is working on projects to bank the unbanked, particularly in regions like Southeast Asia. Their collaboration with Hedera and other partners in the region is set to unlock for millions of underserved individuals access to financial services that have traditionally been out of reach.

Additionally, the company is exploring the launch of its own token on the Hedera network named ATTH (AID:Tech Token on Hedera). This token will play a crucial role in incentivizing data contribution and aiding transactions within the AID:Tech ecosystem.

With these initiatives, AID:Tech is not just expanding its business but also reinforcing its commitment to leveraging technology for social good. As the company continues to grow and innovate on the Hedera platform, it is well-positioned to have a massive impact on aid distribution, financial inclusion, and climate resilience.

Looking ahead

AID:Tech has their eye on the future with both enthusiasm and caution. “We are living through a period of incredible technological change,” says Harrison. “Generative AI and quantum computing have incredible potential to revolutionize the way we live and work. However, quantum and AI also pose incredible threats to security and trust. Deep fakes, quantum attacks on traditional crypto, and AI-generated cyberattacks are emerging that could threaten the foundations of our existing software solutions. Blockchain offers a powerful defense against these threats by providing unhackable and immutable proof of provenance and integrity for all digital assets and all software solutions.”

With that in mind, AID:Tech will be continuously enhancing and adding features to Trust Vault to support more use cases and improve the user experience for customers. The AID:Tech team regards Trust Vault and its distributed ledger technology as a foundation for improving trust and integrity for eSigned document storage and more broadly, across the digital agreements portfolio.