IBF DigiLabs announces a major upgrade to the Benevolence app. This enhanced version is not just a step forward in terms of technology, but a giant leap in facilitating charitable giving in the Islamic world.
The latest upgrade is motivated by the fact that donors have varying levels of comfort with alternative modes of donations involving fiat as well as a wide array of cryptocurrencies. Intending to optimize charitable action, the Benevolence App now includes multiple gateways and wallets such as Stripe, Coinbase, Algorandโs Pera Wallet, and of course, its own IBFX wallet built on Algorand blockchain technology. This expansion is tailored to meet the growing trend of crypto donations, making it easier for users to contribute their charity, zakat, and waqf funds in the most convenient way possible.
In addition to the currently expanded crypto options – Bitcoin, Ethereum, Matic, USDT, USDC, DAI, Bitcoin Cash, Litecoin, (ALGO, IBFN, and more being added soon) – the app continues to support traditional payment methods such as Apple Pay, Google Pay, and Visa/Mastercard. This inclusivity ensures that the Benevolence app remains accessible and user-friendly to a broad audience, regardless of their preferred payment method.
Aligning with the United Nations Sustainable Development Goals (SDGs), the Benevolence app now highlights the specific goals each campaign supports. This feature not only fosters a deeper understanding of the impact of each donation, but also aligns donors’ contributions with their personal or organizational values.
By embracing digital currencies and a variety of payment methods, Benevolence is setting a new standard in how charitable donations can be made and managed in the digital age.
“The Benevolence app is a testament to our commitment to blend technology with the spirit of giving. As the first platform to integrate financial and volunteer contributions, we’re setting a new standard in holistic philanthropy, deeply rooted in Islamic values. Indeed, the Benevolence app marks the beginning of our long-standing relationship with Algorand in developing several other platforms – Credence and Affluence for creation and exchange of digital assets and NFTs –ย culminating with Netverse, worldโs first Shariah-compliant metaverse focusing on elearning and e-commerce in a 3D world,โ said Mohammed Alim, CEO and Cofounder of IBF DigiLabs.
“With a shared vision in blockchain as a force for good, we are excited to work with IBF DigiLabs to make a difference in crypto donations, fueled by the efficiency, speed, and transparency that the Algorand blockchain provides,โ said Summer Miao, APAC Lead for Ecosystem Success at Algorand Foundation. โIBF DigiLabs is a strong local partner in the South East Asian region and we look forward to collaborating on more innovations in the future.”
Initially introduced as a beta platform by IBF DigiLabs, the Benevolence app was crafted to revolutionise the approach to donations and volunteering. Rooted in Islamic principles and embracing a global vision, the platform has been a pioneer in melding technology with conventional philanthropic customs. Notably, it stands as the world’s first platform to integrate both financial contributions and volunteering into a single act of donation.
