The American Idea Foundation (AIF) and Digital Asset, a developer of blockchain infrastructure for financial markets and large institutional participants, announced a collaboration to launch RISE pilot programs in several U.S. states. The technological foundation for the project will be the Canton blockchain network, developed by Digital Asset. AIF is a non-profit organization focused on public policy and social innovation.
RISE stands for Resources for Independence, Stability, and Employment. The program aims to simplify the receipt of government benefits. Currently, families can receive different types of social assistance simultaneously, with each program having its own conditions, payment schedules, and reporting requirements.
Several types of social assistance will be paid once a month or twice a month. The payment amounts will be able to automatically change depending on the family's income, including after a person finds a job. The system will also support identity verification, fraud protection, mobile device access, and programmable rules for fund usage.
Canton will provide the infrastructure for processing operations, managing access, setting payment conditions, and controlling their distribution. Authorized government agencies, employees of non-profit organizations assisting benefit recipients, and independent researchers will be able to access data on transactions and compliance with requirements.
As part of the initial pilot projects, the program's impact on employment, income, benefit receipt, education, housing stability, and other indicators of families' economic well-being will be assessed. The results obtained will help determine how to develop RISE further and which program elements should be scaled or modified.
Image: Magnific
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