Giving Unchained: Philanthropy and the Blockchain

Giving Unchained: Philanthropy and the Blockchain

Blockchain, a technology used by cryptocurrencies like Bitcoin to create a secure, distributed ledger of transactional data, could offer new opportunities for businesses looking to encode philanthropy within their products and services as well as charities looking to improve their fundraising results, a report from the Charities Aid Foundation finds. The report, Giving Unchained: Philanthropy and the Blockchain (20 pages, PDF), finds that interest in blockchain technology, which potentially removes the need for third parties to process transactions or enforce contracts, is focused on its potential to increase transparency and openness, lower transaction costs, and boost donor trust. In turn, greater trust could lead to higher fundraising revenues.