Web3 Platform VeriFund to Bring Transparency and Accountability to Community Funding

Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.

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Filipino platform VeriFund launched as a web3-powered platform aimed at transforming how funds move across nonprofit, public, and community-driven initiatives. The organization said its mission is to make all funding flows “visible, verifiable, and trustworthy.”

A Community Collaboration and Transparency Platform

VeriFund (https://www.verifund.org/) enables campaign creators, contributors, and volunteers to collaborate through a system built on transaction visibility and on-chain verification. 

• Every movement of funds uses USDT on the Polygon network, which they noted provides low-cost transfers and a permanent, tamper-resistant record of activity, allowing users to monitor how resources flow through each initiative.

The platform said its blockchain-based approach allows contributors to monitor funds in real time, minimize fees through direct crypto transactions, and build credibility and trust within the community.

• The platform introduces mandatory accountability features for campaign creators.
• Unlike typical fundraising models, VeriFund requires continuous progress reports and “Proof of Work” documentation from creators detailing how raised funds are utilized. 
• This documented activity contributes to an internal campaign credit score, designed to incentivize consistent transparency and responsible fund management.

Moreover, VeriFund incorporates community tools such as forums, volunteer opportunities, and a refund mechanism. The platform said the model addresses persistent challenges in grassroots funding, including opaque fund use, limited reporting, and the absence of verifiable audit trails.

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Anne Cariño is the Chief Executive Officer of VeriFund. She is also the Chief Marketing Officer at Dream Ventures. Additionally, she is known as the founder of KatRopa Reviews, where she serves as a social media influencer and Key Opinion Leader specializing in web3, NFTs, and content creation.

Compliance and Identity Verification

To establish a baseline for integrity, VeriFund partnered with ID Meta, a compliance and Know Your Customer (KYC) provider. The collaboration implements identity-backed transparency for all stakeholders, serving as a measure against fraud and promoting contributor confidence.

“It’s the foundation for what we envision as a new standard of integrity for grants, donations, and public spending. Because of this vision, we believe there’s a strong story here—one that aligns with the growing public demand for accountability and digital trust.”

VeriFund

VeriFund requires KYC verification for key participants. 

• All campaign creators and volunteers must complete KYC before participating in campaigns or community activities. 
• Contributors and those giving tips can participate without KYC, though verification may unlock additional features in future campaigns.
• Users can deposit funds without KYC, but withdrawals require basic verification to comply with financial regulations and protect all platform users.

How it Works?

VeriFund maintains transparency and accountability through blockchain recording and public scoring systems. 

• All campaign transactions are securely recorded on the blockchain, providing full financial visibility. 
• Progress reports and performance scores, while not stored on-chain, are publicly displayed on the platform to allow users to assess campaign reliability and accountability.

Anyone who completes VeriFund’s verification process can become a campaign creator and launch a campaign aligned with community development goals. 

• The platform bans campaigns that are fraudulent, illegal, politically partisan, religiously divisive, or discriminatory. 
• Contributions are sent directly to a campaign’s smart contract, making them transparent and traceable on the blockchain.
• Contributions are generally final once a campaign is marked complete. 
• Refunds are allowed only if a campaign is closed prematurely after funds have been withdrawn.
  • In such cases, the campaign creator must refund all affected contributors before launching new campaigns. 
  • The VeriFund team reviews these cases and lifts account restrictions only after confirming that all refund obligations have been met.

Types of Scores on VeriFund

• Credit Score is earned by campaign creators who upload valid documentation, such as photos, videos, receipts, or expense summaries.
• Creator Score reflects a campaign creator’s overall reputation based on campaign ratings.
• Reliability Score is earned by volunteers for verified, effective participation.
• Social Score is earned by community members for meaningful engagement, including comments, reactions, or sharing campaigns.

This article is published on BitPinas: Web3 Platform VeriFund to Bring Transparency and Accountability to Community Funding

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