Blockchain and Charity: A Digital Revolution in Giving
Jul 23, 2024

Sam

Hey Amy, I heard something about charities using blockchain. What's that all about?

Amy

Hi Sam! Yes, some charities are starting to use blockchain. It's like a special computer system that can help them do their work better.

Sam

Cool! But how does it help charities? Don't they just need money to help people?

Amy

Well, blockchain can do more than just handle money. For example, it can help charities track donations really well.

Sam

Track donations? You mean like following where the money goes?

Amy

Exactly! With blockchain, charities can see where every dollar goes, from the moment someone gives it until it's used to help people.

Sam

Wow, that sounds useful. Are all charities using it now?

Amy

Not yet. A study found that only a small number of charities are using blockchain right now. But more are planning to use it soon.

Sam

Why aren't more charities using it if it's so good?

Amy

Good question! Many charities don't know much about blockchain yet. And some think it might be hard to use or expensive to set up.

Sam

Oh, I see. What else can blockchain do for charities?

Amy

Some charities found it helps them spend less money on boring office work. And some donors give more money because they trust the charity more when they use blockchain.

Sam

That's great! But I heard something about NFTs too. What are those?

Amy

NFTs are like special digital thank-you cards. Some charities tried giving them to donors, but it didn't work very well yet.

Sam

Sounds like there's still a lot to figure out. Will blockchain really help charities in the future?

Amy

Many people think it will. They're working on making blockchain easier for charities to use. And new companies are starting up just to help charities use blockchain.

Sam

That's exciting! Maybe one day, we'll use blockchain to help people too!

Amy

That's the spirit! Who knows, maybe you'll invent a new way for charities to use blockchain when you grow up!