The new philanthropic frontier: How Web3 could democratize donations
A philanthropic DAO would transform fundraising, grant distribution and nonprofit management into a truly transparent and democratic process. A merge between crypto and philanthropy is already underway as decentralized autonomous organizations (DAO) and nonfungible token artists alike fundraise and donate crypto to nonprofits. But what does the age-old institution of philanthropy have to learn from emerging technologies in the crypto space? Additionally, what does crypto have to offer philanthropy that could improve the sector generally?Crypto offers the potential for nonprofits to be....
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The Argentine Masonic Grand Lodge is the first freemason affiliation to utilize Web3 technology in a philanthropic NFT collection. The Argentine Grand Lodge of Free and Accepted Masons is jumping into nonfungible tokens (NFTs), but with a philanthropic twist. The secretive society is releasing 77 digital art NFTs under the name CryptoMasons, with profits going back to local charities supported by the chapter. According to the announcement, it is the first official NFT project supported by a local Grand Lodge. A Masonic Grand Lodge is the governing entity of a given fraternal freemasons....
Such principles as decentralization and tokenization will enrich the nonprofit and charitable sectors via accepting donations in crypto. The amount of cryptocurrencies on the market has skyrocketed from 500 in 2014 to nearly 7,000 only seven years later in October 2021. A reported 14% of people in the United States — which roughly equals 21.2 million people — have purchased some form of cryptocurrency, with more than 300 million crypto owners estimated worldwide. It’s clear: Cryptocurrency is here to stay, and its path to global recognition and success has only just begun. I have shared....
The new blockchain solution created by Ant Financial will bring in transparency and accountability to philanthropic organizations and charitable institutions. The Chinese billionaire entrepreneur, Jack Ma has forayed in the digital currency technology arena. Ant Financial, one of the affiliates of Jack Ma’s Alibaba Group Holding Limited (NYSE:BABA)has been working on implementing blockchain technology in the non-profit and charity sector to bring in transparency and accountability. The blockchain solution developed by Ant Financial is being used by Alipay to record all incoming....
Web3 (also known as Web 3.0) is the idea of a version of the Internet that is decentralized and based on public blockchains. The concept has gained immense popularity in 2020 and 2021, with interest from cryptocurrency enthusiasts and investments from high-profile technologists and companies. Now we get to see how things unfold, and what to expect on our journey in the new frontier. Related Reading Refinable Launches Gaming Initiative and Sets Aside $150,000 to Support NFT Gaming X Out The Middle Man Web 3.0 has the potential to change how we use the internet. In this new era, navigating....
It's been an event-filled week in the world of Bitcoin, as you'll know if you've been following the right Twitter accounts. If, however, you have not kept up to speed with the quick-fire social network, we've compiled the five most interesting links from Twitter about the world of Bitcoin. 1. EFF thanks community for 726 Bitcoin donation. Thank you, Bitcoin community, for the 726 BTC donation: eff.org/r.3bS8. - EFF (@EFF) May 31, 2013. As reported by CoinDesk, the Electronic Frontier Foundation (EFF) has lifted its ban on receiving Bitcoin donations. The EFF had briefly accepted Bitcoin....