The partnership has created a platform called Close As You Go™ which helps in the disbursal of disaster relief funds using the Avalanche blockchain, resulting in a decentralized, efficient, and transparent system.
On Wednesday, Ethereum competitor and smart contracts platform Avalanche announced its partnership with “Big Four” accounting firm Deloitte to build efficient disaster relief platforms using the Avalanche blockchain.
They have together formed a platform called Close As You Go™ (CAYG).
It will help Government Officials simplify and streamline Disaster Reimbursement Applications to the Federal Emergency Management Agency (FEMA) under the United States Department of Homeland Security.
Disbursement of Funds in a Transparent and Decentralized Manner
CAYG will use the Avalanche blockchain to disburse disaster relief funds to the recipients in a Decentralized, Transparent and Cost-Efficient System. Such a system will empower both the grantmakers and recipients.
The platform works by gathering, processing, and authenticating the required documentation, which ultimately improves the accuracy of Federal Disaster Claims.
AVAX Price Sets All-Time High
This news may have worked as a springboard for Avalanche’s native token, AVAX.
On Wednesday, AVAX traded at the highest price of 110 USDT on Binance, registering nearly 90% growth from the previous month. It is also the All-Time High price of the token.
The market has been in a bearish run for the past few days. But AVAX is not showing any signs of slowing down.
At the time of writing, AVAX was trading at 104 USDT on Binance as per TradingView.
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