POTENTIALS OF BLOCKCHAIN-BASED SOLUTIONS IN GRANTS MANAGEMENT PROCESS OF NON-GOVERNMENTAL ORGANIZATIONS

Abstract

Grants management serves to address and to monitor the utilization of aid from international and domestic donors to beneficiaries, such as non-governmental organizations. Nowadays grants management faces many challenges, and the deployment of innovative technologies serves to prevail over them. The paper focuses on the potential effects of the implementation of blockchain technology in the grants management process. The article employs the study of literature on current problems that exist in the grants management field, and a critical assessment of the frequently exaggerated benefits and capabilities of blockchain technology. The paper also discusses the possible implications of blockchain for non-governmental organizations and processes. The paper draws a conclusion that blockchain has potentials to provide solutions to many current challenges in grants management.