/ Blockchain Will Rebrand Donating Industry

July 29, 2018

Blockchain Changing How We Donate in The Charity Industry

Never before has it been this easy to make a difference.

Did you know that over $40 billion is donated by corporations every year? And more than $430 billion is given yearly by individuals?

Neither did I.

There’s a high demand for Corporate Social Responsibility (CSR) lately.

People believe that large corporations with great power and funds can help the society and make the world a better place. And they are absolutely right.

Corporations like CSR because they can be a socially responsible company, and, well, it helps with their taxes.

The problem with many CSR projects is that trust in the charities is probably at the lowest point ever.
People don’t trust them because they don’t know where their money will end up, and their inability to prove the money was spent where it was said it would be doesn’t help, does it?

More problems come from poor fundraising practices, inappropriate data sharing and maintenance, and damaged commercial relationships.

Blockchain technology offers an entirely authentic, transparent and secure decentralized database which is what those who are giving the money want.

Although blockchain technology is still a work in progress, it has become more established by each day.

Once the data is recorded, it is unforgeable, unretrievable, wholly transparent and everlasting, which is why it fits perfectly in this space. I guess not everyone would agree.

One of the startups supporting this cause, Pixhug, a social responsibility platform, has announced they will be holding an ICO and launch the first decentralized CSR platform, bringing the necessary transparency and efficiency to the new ecosystem of ‘smart’ philanthropy and charitable giving.

Pixhug was created to elevate awareness of charitable causes, bring value to social media, and make giving easier and smarter than ever before by utilizing the financial resources of corporations who care about social responsibility.

It’s not an easy task to displace traditional philanthropy, but it will drive further innovation in the sector.

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