What is Double-Spending Problem

Grant management is a vital process that enables organisations to successfully deliver programmes that address social, economic, environmental, and other challenges. Globally, grant transfers represent significant sums, and their management is fraught with deficiencies that undermine the impact of the donated funds. Among the most urgent challenges in grant management are to improve transparency and reduce high administration costs. Digital transformation has done much to enhance efficiency, transparency, and accountability in grant administration; however, numerous shortcomings still exist. Blockchain, smart contracts, and tokenisation can be combined to achieve greater levels of efficiency and control in grant management than is currently possible. Through the study of fundamental blockchain concepts, the authors propose a grant-management solution that tokenises every expenditure item and uses smart contracts to automate payments, reporting, and budgetary compliance.