Convexity Technologies Limited, a Nigerian-owned fintech company, has unveiled a new application, code-named CHATS, designed to track and monitor palliative disbursement and donor funding to specified beneficiaries, News About Nigeria gathered.
The Chief Operating Officer of Convexity, Adedeji Owonibi, made the announcement after a meeting with representatives from the French Embassy in Abuja on Tuesday.
The CHATS app employs blockchain technology to provide end-to-end visibility of funds and aid distribution, enabling donors, implementing bodies, and beneficiaries to efficiently monitor the disbursement process.
Adedeji highlighted that the digital solution aims to address challenges such as palliative diversion by ensuring transparency in the delivery of aid from donors or government to NGOs, agents, and designated beneficiaries.
The fintech company emphasises the importance of aid distribution transparency, aiming to build confidence among both local and international donors.
Adedeji cited concerns about corruption in Nigeria and expressed the need to enhance transparency in the donation process, allowing donors to trace the impact of their contributions.
Convexity Technologies encourages the Nigerian government to adopt this solution to build public trust in various social safety net programs.
Adedeji suggested that by implementing such technology, the government could ensure transparency, enabling donors to track the impact of their contributions, thereby fostering trust among citizens.
The application has already demonstrated success in preventing the diversion of drugs, as seen in a collaboration with the Red Cross.
Through the use of QR codes and a transparent digital process, Convexity Technologies aims to revolutionise aid distribution, preventing hoarding and ensuring that resources reach those in need.
The launch of the CHATS app follows recent incidents of alleged diversion of palliatives meant for distribution to the poor and needy, emphasizing the need for a transparent method of disbursing relief items in Nigeria.
