Recently, the Blockchain solution provider Empirical Data has announced a new solution know as RedShift; it is a kind of blockchain solution designed and developed for corporate CSR. The crucial task of RedShift is to provide surety for the smooth execution of CSR project execution.
Also, the company claims that the RedShift brings a simple, efficient and affordable enterprise solution that helps corporates to focus and execute humanitarian and social projects.
RedShift enables a shared system of immutable single data source for all stakeholders in the CSR value chain- donors, aggregators, NGO, beneficiary organization and the beneficiary. Apart from providing step by step execution of activities, the company said it is a tamper-proof solution that consistently set records for the whole value chain to see and review. RedShift enables stakeholders and auditors to easily trace the provenance of the data as well as to be prepared for random inquests from government audit bodies.
Blockchain is an enabler for RedShift, providing fundamental change, transparency and empowerment for the execution of CSR in India. Redshift’s SXCAL engine is equipped with advanced features such as alarms, flags, invoice creation, payment initiation and more. With RedShift corporate enterprises can now make use of unprecedented benefits such conservation of time, effort and also get instant reconciliation and updates.