The Issue Of Transparency In Educational Donations By CIOReviewindia Team

The Issue Of Transparency In Educational Donations

CIOReviewindia Team | Thursday, 03 October 2019, 05:31 IST

  •  No Image

The Issue Of Transparency In Educational Donations

In this age, education is a basic need and everyone has a right to it for the sake of their future and the development of their surroundings. Education gives us a deeper understanding on several phenomena and how to deal with them. This comes in handy when you look at the labor market where some experience both theoretical and practical is given priority for developments’ sake. the education industry is also projected to be worth a fortune, making it a key area to look at.

Such knowledge is, therefore, a source of living for many whose skills are depended on to sustain such developments. The better the quality of education, the more relevant the skills acquired.

The problem now comes when you want to acquire quality education as it is quite steep on the costs. This locks out many who are academically gifted who need to have their talents nurtured. Through human goodwill, this problem has a mild solution with larger impacts. The solution is donations from willing persons.

Educational Donations

Donations are very important gestures that give a chance to many to succeed where their future looked bleak due to a lack of resources. Educational donations come in many forms with the most common being fee payment. The sponsor, in this case, commits to fully or partially clear the tuition fees of select students. The students need to demonstrate impressive performance in their respective fields be it in class, sports, leadership among others.

These forms of help may vary in duration with some covering particular modules while others going for the whole duration of the study.

The donations may also come in other assistance such as food, stationery, clothing and many more to deserving student. These are very important to streamline the studying process and brightening up their future. This also gives such students an equal shot in making courtesy of impressive academic performances.

Additionally, the sponsorships also uphold the education system and show how much it is appreciated by the stakeholders involved. The sponsored parties may at times receive necessary mentorship programs that help discover the responsible persons in them who will be helpful to the community when the right time comes.

Transparency In Donations

The grant's main aim is to help the disadvantaged gain some momentum in getting their life in order through education. Many deserving people have been able to benefit from such schemes with the number increasing. The problem, however, is the lack of transparency in the donations.

This is a major concern as many who deserve opportunities of this kind get locked out due to the loss of their chances through dishonesty. As a result, their potential is not opened which is not good for the development of their respective communities.

In the face of this issue, transparency is needed in giving out such donations. There are several ways in which transparency has received a boost, such as by having trustworthy individuals to man the programs. Also, the screening process is thorough to ensure only the finest make the cut.

Constant monitoring of the sponsored is another way to make sure that the individual is as deserving as thy indicated during screening. With technology being a major driving force in this age, donations have solace in some innovations that seek to promote its integrity. Among these innovations are the blockchain powered sponsorships.

The Blockchain Sponsorship Concept

The idea of blockchain-based sponsorships derives from the cryptocurrency boom. This is the increased use of crypto units which took the financial industry by storm on their inception almost a decade ago as an alternative currency.

This is a very efficient mode of securing your sponsorship funds and go a long way in upholding transparency in educational donations. It also looks that the sponsored has acquired the necessary skills at the end of the schooling session.

To use the system you go to the official website such as bitdegree.org and sign up to become a sponsor. On the site, you can meet several students through the screening process. Pick a student to sponsor and deposit your funds into a smart contract.

The funds are kept in the contract as BDG tokens in a 1:1 ratio. The student then takes his or her course and completes it then the funds get released to them. In case the student does not complete the course you get a refund of your deposited funds.

The benefit of this channel is that you are sure to help worthy students with proof of completion of the course, hence your funds do not go to waste. The smart contract also sees the safety of the funds and improves trustworthiness in their handling.

Conclusion

Education is very important when looking at independency and also improvements in development and innovations. Donations and sponsorships come to the aid of the needy but excellent students who need a head start for their educational needs.

If you want to sponsor a student you deem worthy of the opportunity then look at blockchain-based donations for the security of your funds with tangible results of the use of your funds.

CIO Viewpoint

Challenges and Issues of Online classes

By R. Chandran, Chief Information Officer, Bahwan Cybertek

Educational Technology, Digital Learning In The...

By Swati Sankhye, Chief Information Officer, MIT World Peace University

CXO Insights

Education Should Be A Want And Not A Need

By Dr. Prem Das Maheshwari, Business Director, South Asia, D2L

Current Industry Trends In Education

By KVS Seshasai, CEO, Kangaroo Kids Education Limited

Going Digital - What We Need To Remember As A...

By Damayanti Bhattacharya, Principal, Jasudben M L School and Bloomingdales Pre-Primary

Facebook