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What is the connection between the charity and blockchain?

Charity and Blockchain

 

 

What is the connection between the charity and blockchain?

 

Preface

connection,charity,blockchain

Charity is the action, God-friendly behavior in the all over the world.

The people make a charity  to The needy for God sake.

But there are very challenge and problems for them.

I want to speak about that .

I hope that my solutions,be useful.

I think,Charities today are exposed to one of the most volatile periods in modern history, but with some fresh thinking and long term strategy, shrewd charities stand to reap rewards.

Do you agree with me?

By the way With ongoing austerity, changes in social attitudes, fake news, invasive social media, and the political and economic uncertainty , it can be hard to keep up.

Actually, what is the Position of the blockchain?

What are you thinking about it?

not-for-profit organizations are always exploring new ways of attracting support from the crypto community, and demand is growing.

Charitable giving allows investors to help causes they are passionate about – and if their cryptocurrency assets rise in value, donations can be used in some countries to eliminate the capital gains taxes they would need to pay on the appreciation.

According to a report by Fidelity Charitable, 2017 was a record year for crypto donations. This organization received $69 million in cryptocurrencies like Bitcoin, and claims this was almost 10 times higher than the year before.

connection,charity,blockchain

Could crypto be mined for charity?

Several charities have been exploring this concept with some success.

Over 59 days at the start of 2018, UNICEF launched an initiative called Game Chaingers, which aimed to inspire young people to do something good for society.

The children’s charity appealed to people with powerful graphics cards in their PCs, such as gamers, to use their spare computing capacity to mine Ethereum.

More than 12,000 computers were aggregated during the appeal and a total of 85 ETH (roughly $36,000 at today’s rates) was raised.

The funds went towards helping children affected or displaced by the Syrian civil war.

For charities, this can be a way of attracting supporters who may not have the make a financial contribution, but still want to help.

However, such schemes aren’t necessarily perfect.

Mining can be energy intensive and even harmful to the environment, meaning charities walk a fine line in doing more harm than good. UNICEF stressed that its initiative didn’t result in additional electricity usage, preventing participants from racking up hefty bills.

At First, I explain meaning of charity .

After that, Let’s talk about some of the problems that may be there.

Finally, Let’s talk about some of the solution that may be there By Blockchain!

connection,charity,blockchain

 

Charity means
  • Charitable organization or charity, a non-profit organization whose primary objectives are philanthropy and social well-being
  • Charity (practice), the practice of being benevolent, giving and sharing
  • Charity (virtue), the religious concept of unlimited love and kindness
  • Principle of charity, in philosophy and rhetoric

 

Charity (practice)

Charity is the act of giving help to those in need of it.

It is a humanitarian act. It involves giving money, goods or time and effort to those who need it. It is done without expecting something in return.

Most charities are concerned with providing basic needs, such as food, water, clothing, health care and shelter. The most common form of charity is donating money.

The money is then used to buy these basic needs.

Charitable giving can be a responsibility in many religions. This kind of charity is called almsgiving or alms. In Islam, for example, it is called zakat. It is one of the five most important duties of being a Muslim.

connection,charity,blockchain

 

Problems of charity

Top 10 risks (charities who said they were concerned or very concerned)

Funding

There are five main ways that charities stretch their dollars: by using volunteers, by hosting gala fundraising events, by selling products, by sponsoring events, and by advertising to bring in more donations.

Charities can make a profit or surplus. But all the surplus funds have to go back to the charity. Similarly, charities can and do invest their money in order to generate a return.

But that return can only go back to the charity to spend on its cause.

connection,charity,blockchain

 

Impact of Government changes

For example, Quantifying the economic impact of government and charity funding of medical research on private research and development funding in the United Kingdom

Government- and charity-funded medical research and private sector research and development (R&D) are widely held to be complements.

This study estimates the magnitude of the effect of government and charity biomedical and health research expenditure in the United Kingdom (UK), separately and in total, on subsequent private pharmaceutical sector R&D expenditure in the UK.

There is a statistically significant complementary relationship between public biomedical and health research expenditure and private pharmaceutical R&D expenditure.

A 1 % increase in public sector expenditure is associated in the best-fit model with a 0.81 % increase in private sector expenditure.

Sensitivity analysis produces a similar and statistically significant result with a slightly smaller positive elasticity of 0.68. Overall, every additional £1 of public research expenditure is associated with an additional £0.83–£1.07 of private sector R&D spend in the UK; 44 % of that additional private sector expenditure occurs within 1 year, with the remainder accumulating over decades.

This spillover effect implies a real annual rate of return (in terms of economic impact) to public biomedical and health research in the UK of 15–18 %.

When combined with previous estimates of the health gain that results from public medical research in cancer and cardiovascular disease, the total rate of return would be around 24–28 %.

Overall, this suggests that government and charity funded research in the UK crowds in additional private sector R&D in the UK.

The implied historical returns from UK government and charity funded investment in medical research in the UK compare favourably with the rates of return achieved on investments in the rest of the UK economy and are greatly in excess of the 3.5 % real annual rate of return required by the UK government to public investments generally.

connection,charity,blockchain

 

Reputational risk

Reputational risk poses biggest threat to future of charities, report finds

  • Reputational risk poses the biggest threat to charities over the next five years, while funding remains the biggest concern to charity leaders in the short-term, a new report has revealed.
  • Survey results revealed that in the wake of the Oxfam safeguarding scandal, reputational risks are high on charities’ agendas
  • However, funding remains the biggest concern for charities in the short-term
  • The report also highlights a number of emerging risks including charities’ ability to attract and retain talent, stress-related burnout among staff and engaging with the next generation of supporters.
  • It further highlighted the need for charities to think more strategically about risk management to ensure their future prosperity.
  • The research also found many charities were taking a short-term view of risk.

 

The report makes four over-arching recommendations:

  • Boards need to regularly evaluate their risks and set time aside to properly consider the threats to the charity’s prosperity and security.
  • Diversification is crucial to protecting charities from financial headwinds and to maintaining relative stability in an unstable world.
  • Fundraising models need to evolve more quickly to attract a new generation of supporters in a digital world.
  • Diversity of opinion and talent at board level will enable boards to move forward as confidently as possible in an uncertain world.
  • The publication of the Charity Risk Barometer followed conversations with sector partners, including the Charity Finance Group, Institute of Fundraising, and Carers’ Trust, at a panel event last year and a survey of 200 charity leaders.

 

GDPR/data protection

What is GDPR? The General Data Protection Regulation is an.in touch with them about fundraising campaigns or news about the charity’s work, you are doing.

Today’s current network and data security approaches focus primarily on threat detection and vulnerability management.

But modern CIOs and CISOs want “provable security”.

They see securing data as a strategic investment in mitigating risk and a quantifiable contribution to the overall value of their business.

connection,charity,blockchain

 

Cyber/internet crime

THE CERTES FIVE PILLARS

Certes Networks Provable Security™ introduces a new way to think about data security and the effectiveness of your security strategy based on the Certes Five Pillars, key performance indicators (KPIs) that are quantifiable, measurable and outcomes driven.

They want to see that security policies are being enforced properly and, most importantly, prove that their security strategy is actually effective.

connection,charity,blockchain

 

Grant providers

Grant-giving funds (also known as ‘charitable funds’) give financial help in the form of a grant to people in need. … Some charities also offer advice, information and support.

Each fund on the Grants Search should tell you what they do, or you can check their website (if they have one) or contact them to find out more.

 

  • Do I qualify for grant? Can anyone get a grant?

General eligibility for federal aid programs includes that you have financial need, are a U.S. citizen or eligible non-citizen, are enrolled in an eligible degree or certificate program at your college or career school, and more. You’re an undergraduate student who’s enrolled full-time or part-time.

Individual people may submit applications for a funding opportunity on their own behalf (i.e., not on behalf of a company, organization, institution, or government). Most of the funding opportunities on Grants.gov are for organizations, not individuals.

  • Can I set up a charity and pay myself?

While a nonprofit organization itself cannot earn a taxable profit, the people who run it can receive a taxable salary. … The IRS expects that you’ll pay yourself reasonable compensation for the services you provide—and it judges reasonableness on the basis of comparable salaries for comparable organizations

 

  • What can I get a grant for?

Applying for Personal Grants from the Government,Child Care/Child Support,Counsel/Counseling,Disability Assistance,Disaster Relief,Education/Training,Employment/Career Development Assistance,Energy Assistance,Environmental Sustainability/Conservation.

  • Do you ever have to pay back grants?

Grants are a form of financial aid. Unlike student loans, they typically do not have to be repaid. But if the obligations have not been met, some or all of the grant must be paid back.

connection,charity,blockchain

 

Employer liability

Employer liability is very important In the all of the world.

So I want to explain it for you and I express the its challenges because those are very important.

Civil liability and accident insurance are important.

We should not ignore them.

Employers’ Liability insurance for your charity. Do charities need employers liability insurance?

Our charity Employers’ Liability insurance protects you if you are found legally liable for injury, including illness, and death caused to an employee whilst carrying out their business duties.

If your charity has employees, you’re legally required to have employers’ liability insurance. Even if your workforce is just one person (other than you).

More than that, you’ll need to manage any risks to their wellbeing under the terms of the Health and Safety at Work Act.

  • Are volunteers covered by employers liability insurance?

Here’s how your insurance can cover it:

General liability insurance can pay for injury lawsuits for short-term volunteers. … Workers’ compensation insurance can cover injury lawsuits from long-term volunteers.

Many NPOs have volunteers that work for them much in the same way an employee would work for an employer

  • Why do I need public liability insurance?

Public liability insurance is there to protect you if someone is injured (or their property is damaged) and your business is faced with a compensation claim as a result.

It can cover you at your business premises and also when you’re working at client sites or in public

  • Do nonprofits need workers compensation?

Nonprofit Organizations. Not-for-profits that are compensating individuals for their services are required to obtain a workers’ compensation insurance policy with the following exceptions:

Paid clergy and members of religious orders are exempt from mandatory coverage (but can be covered voluntarily).

connection,charity,blockchain

 

Exposure to social media

Social media can be one of the most effective ways for charities to build supporters, boost donations, share success stories, network with like-minded organisations, encourage people to sign up to campaigns, recruit volunteers, or demonstrate the impact of their work.

Nonprofits use social media platforms every single day to connect with constituents, raise awareness for causes, and collect donations.

With engaged followers on one or more of the major social networks, organizations can effectively spread the word about fundraising campaigns, new initiatives, and advocacy work

 

  • Why is social media important for charities?

Compared to press or advertising, social media enables charities to take their campaigns directly to their audience with no intermediaries.

This gives them more control over the message, and allows them to build relationships with their audience in real time.

  • Why social media is important for nonprofits?

I think, Creating an effective campaign help to you to Access your Targets

Social media serves as a tool to help people grow their nonprofit organizations and enables individuals with specific interests to share them with others.

It enables these organizations to create relationships and engage with their constituents.

 

  • How Social Media Promotes Charity?

Here are five essential tips for charities to get the most out of social media when promoting their cause.

Remember: Social Media is a Conversation. …

Be Active and Responsive. …

Be Personal and Authentic. …

Encourage Sharing. …

Make Social Media an Organization-wide Activity. …

 

Actually, The contents are stated are Opportunity or Threat?

Monitoring of advertisements performed, Providing marketing plans, Supervising the employer to insure personnel, Benefiting the real needy from the charity, are  All the help of the benefactors for real needy?

These are challenges of the charity!

Now! Does blockchain provide a solution?

Charitable organizations often encounter barriers to success due to lack of transparency

 

Blockchain technology could help resurrect the images of charities willing to adopt its services.

By minimizing administrative costs through automation, providing more accountability through traceable giving milestones, and allowing donors to see more clearly where their funds are going, blockchain may help restore some of the lost credibility to charities that prove worthy of the public’s trust.

The Blockchain build trust with donors, recipients, and other stakeholders reach the right people and improve administration costs and efficacy.

Show donors the difference their donation makes, acquire funds rapidly through crowdfunding and hand control to the people you help.

connection,charity,blockchain

 

The Blockchain build trust with donors, recipients, and other stakeholders reach the right people and improve administration costs and efficacy.

Show donors the difference their donation makes, acquire funds rapidly through crowdfunding and hand control to the people you help.

 

Transparency Is Key For Fighting Poverty

One of the key benefits provided by blockchain technology is transparency, which is also one of the greatest challenges faced by charities today.

“Donors don’t have the visibility as to where their funds are going, and most donations do not reach their intended beneficiaries.

This lack of transparency causes a lack of trust, further reducing the willingness for people to donate to charity funds in general,” Zhao said.

“With improved transparency, we can be sure that all funds are used for the right purposes.

Once people have confidence that we can do more good, there will be more donations coming in.

With more donations coming in, we can accomplish even more,”  said Zhao.

The charity system will begin accepting donations immediately, with initial support for Binance Coin (BNB), Bitcoin (BTC) and Ether (ETH) cryptocurrencies. BCF will also open a donation channel to support victims of the floods and landslides in Eastern Uganda.

 

Several usage applications

The blockchain technologies allow several applications like data collection, peer-to-peer smart contracts and creation of digital assets.

 

Is there a charity that used blockchain?

“We believe poverty is not a destiny.”

Binance-initiated Blockchain Charity Foundation (BCF) launched its blockchain-based donation portal at the UNCTAD World Investment Forum this year.

While the platform aims to bring transparency to a number of charitable organizations, the BCF platform will specifically advance the progress of the UN Sustainable Development Goals (SDGs).

The foundation is a revolutionary donation platform for nonprofits to provide transparency and accountability by making financial information to donors.

The platform is built on the Blockchain technology to ensure that the process is traceable, immutable, and reliable.

If you look at the first few UN Sustainable Development Goals, such as poverty, hunger, health and even education, these are easily addressed or improved by the charity initiatives.

”BCF will leverage blockchain technology to help fill the UN Sustainable Development Goals funding gap and directly empower over one billion people living in poverty.

 

In addition to TRON, representatives from Bancor, UNICEF, IBM, Hyperledger, ConsenSys, the public sector and others gathered at the forum to discuss the implementation of blockchain toward the SDGs.

The Blockchains for Sustainable Development forum attracted more than 700 attendees from around the world. Organized by the IFLAS initiative on Blockchains for Sustainable Development and supported by BCF, this marked the first blockchain session ever held at World Investment Forum.

It Takes A Village

Echoing Binance, TRON Foundation pledged an initial amount of $3M to BCF to be put towards advancing blockchain efforts for charity.

”All of us here have made the decision to be leaders in shaping blockchain technology for social good.

After speaking with individuals involved with the UN’s Sustainable Development Goals, it become clear to Sun that there was a lack of transparency, traceability, and efficiency within the organization. In turn, this has directly impacted the success of the organization’s charitable actions.

Finally, In that perspective, BCF combined forces with 47 companies to introduce the Pink Care Token, a social-impact stablecoin issued on Binance Chain.

With the aid of it, the alliance is running a poverty campaign to empower 1 million women in developing countries to improve feminine health and wellbeing. Even this shows how blockchain can iterate charities workflows in the best way.

 

 

Conclusion

 

we have all seen the power of Bitcoin and other cryptocurrencies, many are yet to know the potential of the underlying technology – decentralized, peer-to-peer, distributed ledger called blockchain.

This technology means a secure and instantaneous sending of currencies around the word at a very low cost.

Social impact and donation platforms incentivize social organizations (social enterprises, NGOs, charities) to run projects in a transparent way and get paid for achieving their goals.

The blockchain solutions are out to reduce intensive financial and legal intermediaries which are usually an expensive and long process.

This platform can also provide proof of need and proof of receipt to ensure that the cause is indeed a worthwhile one and that the funds reach the intended party.

And because blockchain lowers administrative costs, more funds can reach the right, needy recipient.

For charities, overhead costs have been a point of much contention.

These costs denote the number of donations that goes to administrative expenses versus an actual cause, and while many see overhead costs as necessary, exorbitant administrative expense percentages are a red flag.

The primary administrative cost for charities is associated with fundraising and marketing or getting the word out about the charity.

Blockchain-based platforms are aiming to provide charities with a marketplace to reach a ready-to-give audience, and these platforms take far fewer fees than traditional marketing and fundraising agencies.

 

 

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