The next iteration of the internet will impact every aspect of charity, just as the current internet does today. It won't be some big cross over moment, it will just quietly happen, and one day you'll realise all the apps and platforms you use are built on the blockchain. Your medical, educational, housing and work history are all documented in smart contracts. You've been 'onboarded' and you didn't even notice.
But you don't have to be a passive observer of this digital revolution and I'm guessing as you're reading this, that's not your intention either. If you want to ensure that charities and non profits are at the heart of this new internet, that they benefit from more of a say and enjoy long term benefits, it will help you to learn and get curious today.
My mission in life is to leave the charity sector in a better place that I found it. I want to be a part of that positive change. I want to change people's minds on what charity is, and be a part of changing what charity is because for the most part, the current model is broken.
My work home for the past 23 years, I truly love the charity sector. I love the people who dedicate their lives to making the world a better place, I'm passionate about the causes and about making a difference.
But not everyone feels the same. Trust in the sector is falling. Donations are falling. There is a recruitment crisis in the sector. The planet has never more needed charitable organisations to fight the inequitable and unjust systems on it's behalf and yet the pace of truly transformational change is really slow. The cards are stacked against us.
I believe the sector needs to be an early adopter of Web3 technology in order to play a key role in building an equitable next iteration of the internet.
Below are three ways Blockchain Tech will benefit charities.
Blockchain tech makes it easy to create brand new membership models which will revolutionise donor & supporter engagement. Through creating distinct roles and opportunities to vote on key decisions and create proposals about where funds are directed, beneficiaries and supporters can start to lead the direction of travel of their favourite charity. Thus building trust, priortising lived experiences and strengthening engagement.
One thing you can do today: Research Web3 based Membership Management platforms such as Charmverse and research how DAOs work such as Honey Badge NFT DAO.
2. Social tokens or NFTs will allow supporters and staff to access incentives and perks for being involved with the charity. Whether their involvement is through donating money, doing events, volunteering , content creation etc. The token could be sold when the supporter (or staff member) had finished their activity or decides to support/work at a different organisation.
Currently no one benefits from attrition of staff and supporters, in fact it costs charities millions in lost revenue and time. But in this use case the charity would benefit from secondary sales of that token, and the member could also receive a financial or in kind value from selling it on. This all happens automatically on the blockchain.
One thing you can do today: Read up on The Rise of Social Tokens on Philanthrop3.com
3. Web3 can make charity relevant to younger generations. I hate to say it but as a sector we are so unprepared for Gen Z supporters and how they want to engage and support and campaign.
Gen Zs want instant gratification and they want transparency and authenticity and to feel they are making a tangible difference. Blockchain tech will cut out a lot of the inefficiences that currently exist. It will allow supporters to send donations directly to unbanked communities and to the frontlines and to witness with their own eyes the difference their donation is making. No waiting for an annual report or vague promise of where their funds go. This will be direct, it will be real time and it will change the face of philanthropy forever.
One thing you can do today: Read the Honey Badges Impact Reports to hear about real communities that are being supported in this way.
If you want to be a part of the solution, it's time to buckle up because the earlier people like you are involved in the new internet, the longer term the benefits will be.
Next time: how the Metaverse & AI are changing the face of what's possible in the Charity sector.
For more support please email: jane@philanthrop3.com or check out philanthrop3.com for ways we can help your charity become more Web3 literate.
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