Many scandals have shaken the way the public perceives typical charity and trust in charitable organizations. It is no accident that scandals that made headlines in the world of philanthropy coincided with the decline of faith in these organizations.
Charities face a major challenge at a time when there is a decline in donations among young people, increasing skepticism and concerns about where the donations will end. At the same time, they struggle with inefficient and underfunded administration, often fail to target aid properly, and often see the most vulnerable and needy lost.
Essentially, the term charity has been used and abused, and much of the public is no longer willing to accept the word of charity as a title.
Blockchain technology can help resurrect the images of charities willing to adopt their services.
By minimizing administrative costs through automation, providing more accountability through traceable donation milestones, and allowing donors to see more clearly where their funds are going, blockchain can help restore some of the lost credibility for credit institutions. charities that are worthy of the public's trust.
Blockchain builds trust with donors, recipients and other stakeholders reaches the right people and improves administration and efficiency costs. Show donors the difference your donations make, quickly acquire funds through crowdfunding and hand over control to the people you help.
In addition to solving existing problems, blockchain solutions can enable charities and nonprofits to deliver results in entirely new ways that would be impossible without the blockchain.