Beneficiary

The Pledge beneficiary is the Ethereum address that receives funds from the Pledge contract when the result of the pledge is unsuccessful. This might be an address that represents a charity or fundraiser that receives a donation when a goal is not met, but could be any Ethereum address.

One could also program Pledges such that "unsuccessful" can be interpreted more flexibly. For example, a Runner Pledge might specify that the beneficiary only receives the funds if and only if the user runs less than 10 miles, effectively making it so that funds are only donated if the running goal is achieved.