All_EBT is backed by Draper Associates, EOS, and Facebook, and allows recipients of electronic benefit transfers — or EBT — to spend those benefits online. The firm’s website currently prompts users to join a waitlist.
The firm previously won hackathons organized by Facebook and Y Combinator, and received the EOSIO Hackathon’s social impact award in 2018.
All_EBT also provides a consumer on-ramp to cryptocurrencies.
Telos deploys DLT to secure food assistance
“In America alone, more than 22% of the population, 54 million people, live on food stamps,” said All_EBT founder and CEO, Eli Morin.
“That number has gone up over the last several weeks and months amid the COVID-19 pandemic, making it even harder for people on food stamps to access healthy food and financial services,” he added.
Justin Giudici, head of product at the Telos Foundation, told that its blockchain “will be used to create an immutable record of EBT data,” making the data “verifiable, auditable and trackable to users, merchants, and the government.”
Blockchain solutions highlighted by crises
Giudici recounts first meeting Morin and his team during the EOSIO hackathon in November 2018, noting that the firms have “touched base intermittently” since.