A novel blockchain-based charitable model combined with insurance

Cheng Yang, Chengkun Lin, Wenming Zhao () and Jinming Cui
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Cheng Yang: Southwestern University of Finance and Economics
Chengkun Lin: Southwestern University of Finance and Economics
Wenming Zhao: Southwestern University of Finance and Economics
Jinming Cui: Southwestern University of Finance and Economics

The Geneva Papers on Risk and Insurance - Issues and Practice, 2025, vol. 50, issue 1, No 7, 185-202

Abstract: Abstract Existing blockchain-based charitable models face multiple challenges, like authenticating information uploaded to the blockchain, a lack of dispute resolution and corresponding execution mechanisms, legal barriers and low public engagement. To this end, we propose a novel blockchain-based charity model that introduces an insurance mechanism, which aims to enhance accountability, efficiency, availability and public participation. Specifically, our solution combines consortium blockchain with a semi-decentralised architecture (SDA), which enables more democratic supervision of charitable projects by dispersing verification data to all clients while maintaining the high efficiency, convenience and accountability of centralisation as well as the security and transparency of decentralisation. The model also incorporates smart contracts to automate the execution of insurance claims in case of disputes, significantly enhancing the efficiency and fairness of the claims process.

Keywords: Blockchain; Charity; Crowdfunding; Insurance; Smart contract (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1057/s41288-024-00337-w

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