🌱🐰💰 The Future of Giving
Rapid technological development, climate change and a global pandemic have all led to a permanent shift in the way that some organisations operate. Nonprofits are no different.
The Good, the Bunny and the Money is our monthly take on the latest impactful success stories from across the U.S. and around the World.
'🌱 The Good' looks at nonprofits leading the way in impactful change;
'💰 The Money' takes a dive into the private-sector champions driving financial inclusion & economic development; and
'🐰 The Bunny' showcases the most promising collaborations between nonprofits and businesses working hand in hand for the People and the Planet.
Rapid technological development, climate change and a global pandemic have all led to a permanent shift in the way that some organisations operate. Nonprofits are no different - ninety-seven percent affirmed the need to innovate in response to the coronavirus pandemic, according to CAF America. Today we focus on innovators across non-profits, the private sector and collaborations between the two that are revolutionising how, where and what we give to support the causes we care about.
🌱 The Good: Giving the gift of time with timebanking
Designed to increase individual and community well-being, Timebanking is a system of giving and receiving without the use of money. When you give one hour of service to another, you receive one time credit, tracked via a central software. You can use time credits, in turn to receive goods and services offered by members, or you can donate them to others. The youth timebank in St. Petersburg, Florida is particularly impactful as it is enabling members to learn valuable skills to support their transition to adulthood. It is also teaching youth the importance of building social capital - “the network of relationships among people who live and work in a society, enabling that society to function effectively.”
💰 The Money: Fighting poverty through Unconditional Basic Income and Blockchain
The problem: Poverty is the biggest limiting factor for human potential, and for decades the traditional system has tried - and failed - to end it.
A new approach: Enter ImpactMarket, a free platform that crowdsources and distributes funds amongst communities fighting poverty. ImpactMarket allows for the distribution of unconditional basic income - a form of income ensuring selected individuals have access to sufficient recurring income to escape extreme poverty (find out more here).
Secure and transparent payments: ImpactMarket uses cryptocurrency Celo Dollars (cUSD) which runs on a blockchain platform. The blockchain technology means anyone can send money to another person in a transparent way, regardless of country. All that’s needed is an internet connection and a smartphone.
🐰 The Bunny: Upturning traditional finance the MUNCH way
MUNCH is a new, decentralised finance (DeFi), ethereum based cryptocurrency which donated $300,000 in just four days following its creation in April. MUNCH replaces the ‘bite’ that’s taken by intermediaries in the traditional finance system (such as admin fees and payback charges) and instead redistributes a fee from all MUNCH transactions to charitable causes. A major differentiator of MUNCH is that all fees to be donated are converted to ethereum at the point of transaction, so that no funds are ever held in a wallet owned by MUNCH, meaning the charity-based model can never be disrupted or diverted.
Coke takes a sip of the NFT trend with charity auction
Coca-Cola has announced its first steps into the world of non-fungible tokens (NFTs). The drinks brand has partnered with 3D creators Tafi, to host an auction for ‘loot boxes’ of NFTs, created by Tafi, which includes digital apparel that can be worn in Decenterland - a decentralised, open-access virtual reality platform. Profits from the auction will be donated to the Special Olympics - a cause that The Coca-Cola Company has supported since it was founded in 1968.
🥕 What else we’re munching:
- How DeFi could transform business financial services for sMEs
- Foundation giving numbers for 2020 show 15 percent increase
- Clubhouse app helps nonprofits reach new, influential audiences
- We’ve heard of “banking the unbanked” but what about “unbanking the banked”?
- What Women Advocacy groups worldwide are doing for women in Afghanistan
Image Credits: Cover Photo by Giu Vicente via Unsplash; St Pete Youth Timebank; ImpactMarket; Munch