Thread by @InnovationMatt

Happy #CryptoGivingTuesday everyone! We’re gonna have some fun today as we demystify all things crypto-philanthropic 🔓💰🤓

What is the blockchain? Which crypto should we care about? NFTs, WTF? How can charities understand and maximise the opportunities?

Let’s go! 🧵 1/🔮

So why are so many people excited about this new way of giving?

Let’s start at the beginning… the blockchain. The digital ledger on which data, whether it’s money, exclusive art or other info, is stored…

#CryptoGivingTuesday 🧵 2/🔮

theverge.com/22654785/block…

As physical notes and coins disappear from society (and they will TOTALLY disappear in my lifetime) traditional & crypto-currencies will look more alike…

Money is a long shared fiction, a story. Crypto is the next chapter
#CryptoGivingTuesday 🧵 3/🔮

npr.org/2020/09/08/910…

We’re now seeing a number of platforms enter the crypto space to better support charities…

@TheGivingBlock (think of them as a crypto JustGiving) is now working with causes in the UK.

Here the team discuss the platform and #CryptoGivingTuesday 🧵 4/🔮

Now going to share recent examples of UK charities working with, and raising money from, the crypto-community…

First up, @EdinDogCatHome received a donation worth 26ETH (ethereum = £87,000) from @pawthereum. A partnership to watch this #CryptoGivingTuesday
🧵 5/🔮

https://twitter.com/edindogcathome/status/1460184487028002816

Last year, @CHUFOfficial working with @TheGivingBlock received crypto donations worth £38,000

One donor had been supported by the charity his whole life. So despite the new tech, motivations to give remain the same in crypto.

#CryptoGivingTuesday 🧵6/🔮

chuf.org.uk/news/chuf-rece…

On the bigger end of the scale, @SavetheChildren were recently chosen by the @MunchToken community to benefit from their charitable efforts…

The community regularly votes on which organisation should benefit next and has donated over $4 million

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https://twitter.com/news_of_bsc/status/1459325196515618817

Let’s turn next to NFTs…

Exclusive art and experiences have been central to charity auctions for decades. NFTs just bring this giving method into the 21st Century…

Launching today, @DoinGudHQ are the platform to watch in this space
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https://twitter.com/doingudhq/status/1465476433040396288

There are several risks & ethical considerations...

As with all parts of the internet, crypto servers come with an environmental cost (although steps are in place to mitigate). Other big risks include fluctuations in value and money laundering.

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Having robust policies, donation T&Cs and working with trusted partners is essential.
@TheGivingBlock is doing great work to make this easier and safer for charities.

Ultimately, treat crypto with the same scrutiny as your traditional income streams
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In summary, huge opportunity for charities to engage with the incredibly generous and future-thinking crypto community.

Risks need to be considered, but there’s now the case studies and established partners to support. A great time to dive in! 🤓

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