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Social Coin

Blockchain-based solutions for third party purchases and money management in long term care

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Managing and using financial assets of care recipients is an important part of long-term care provision. As formal and secure delegation mechanisms are largely lacking, cash-based and/or informal ad-hoc solutions are often chosen for this purpose. Such solutions are associated with significant disadvantages, such as time-consuming and inefficient procedures, low control and traceability, extensive documentation efforts and high uncertainty.

Project "Social Coin": In this context, the "Social Coin" project explores possible applications of blockchain technologies for efficient, secure and transparent billing and documentation processes. The project focuses on selected use cases and aims to develop new solutions that will create benefits for all stakeholders involved. Blockchain technologies offer the potential to design payment transactions in a way that allows for flexible and secure delegation to third parties.

Blockchain-based app: The first phase of the project is dedicated to the use case purchases by third parties in the context of home care (mobile care). The new application supports employees of service organizations, care recipients, and their social networks in conducting and documenting payment transfers when running errands for daily needs. The goal of the app is to make processes more efficient and secure through intelligently designed technical solutions

Duration: 01.7.2022 - 30.09.2025

Funding: DIE ERSTE österreichische Spar-Casse Privatstiftung. This project is funded within the COMET center ABC - Austrian Blockchain Center by the Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation and Technology, the Federal Ministery of Labour and Economy as well as the provinces of Vienna, Lower Austria and Vorarlberg. The COMET program (Competence Centers for Excellent Technologies) is managed by the FFG.

Team WU-Altersökonomie:

Beate Steurer, MA
Univ.Prof. Dr. Ulrike Schneider – team lead WU „Social Coin“
Dr. Birgit Trukeschitz – assistant project lead WU „Social Coin“

„Social Coin“ ProjektpartnerInnen:

ABC Research – Lead
OeNPAY Innovation Hub