ConsenSys, MakerDAO and Dether Launch Bifrost, a Project to Help Aid Groups In Conflict Zones

ConsenSys, MakerDAO, and Dether joined forces to launch Bifrost.

By eliminating central third parties such as banks and governments, and introducing their stablecoin, DAI, Bifrost was built to help aid groups in conflict areas that need immediate cash on the ground.

Now, charities will see more of the donated money and banks will see less of it.

Bifrost was announced on May 29th at the Oslo Freedom Forum in Norway.

Bifrost is the first project that the ConsenSys Social Impact division has tackled.

As a result, they cut out many of the middlemen and create a more direct system for people to donate money to charities.

By eliminating the need for banks, Bifrost can significantly reduce fees, ensuring that those who need the money, receive it.

Once a donation is made, MakerDAO and Dether will then deliver the funds to the scheduled recipients.

This helps ensure that the amount of money donated to aid groups is the amount intended recipients receive.

Dether is a peer-to-peer system that only requires a mobile phone with internet access, thereby allowing aid groups to work with the local population instead of a centralized bank.