Former U.S. Senator Rick Santorum Voices Support for Catholic-Focused Blockchain Platform

Cathio

Former U.S. Senator Rick Santorum has expressed his support for Cathio, a for-profit organization that recently launched a Catholic-focused blockchain platform.

Millennials don’t carry cash, they date on apps and watch on-demand entertainment,” Santorum said about the new platform.

“We have to be there, we have to learn from successful tech companies, and we have to provide a universal solution that makes it easy for younger generations to engage with the Church.

Santorum is a member of Cathio’s board of directors. It’s also worth noting that he is the father-in-law of Cathio’s CEO, Matthew Marcolini.

Transparent payments

As detailed in a press release, Cathio is a new payment, remittance, and funding platform that will provide efficient, secure, and transparent movement of funds within the Catholic world.

According to its website, the platform will feature advanced reporting tools for dioceses, parishes, and charities. Users will also have access to a searchable directory, leave comments, rate organizations.

Further specifics on the platform have yet to be revealed, with Marcolini only stating that “Cathio’s platform is designed to enable all sectors of the Catholic economy to benefit from lower costs and transparent payments.

Cathio is also reportedly planning to release its own stablecoin to complement the platform.

Non-anonymous donations

A report from Alphaville mentions that Cathio will charge a fee of almost two percent for donations. The piece also raises some questions regarding the platform’s possibly “un-Catholic” approach.

Apart from the contradictions between keeping donations anonymous — as per the teachings of the New Testament — and being able to ‘ask where the money’s come from’, there’s also the issue of usury (ie the lender making interest, which is effectively what charging a fee on a stablecoin transaction amounts to),” reads the report.

Marcolini, however, believes that the transparency will prove helpful for churches in the long run.

When somebody’s doing the wrong thing, or if the government has a question, or If there’s any investigation into any wrongdoing, being able to track that information could be helpful for the Church,” he told Alphaville.