Philanthropy is often difficult to succeed due to lack of exposure and transparency, unclear accountability issues, and limited channels for accepting donations. Digital charity (using blockchain technology to promote charitable donations) provides a new solution. In the case of decentralized transactions, charitable organizations can receive donations and raise funds more efficiently.
The point is that we can clearly know the flow of Bitcoin so that we can monitor the use and destination of charitable donations, because some charities are not trustworthy.
But I will not reject the many advantages of this approach.
The potential value of digital philanthropy
Digital philanthropy has some notable advantages for charities and donors:
Complete transparency: every digital currency transaction is traceable through blockchain data. Such a high degree of transparency and openness can encourage donors to donate, and it can also greatly improve the credibility of charities.
Globalization and decentralization: Most blockchain networks are highly decentralized. They cannot rely on a centralized government and institution to operate. Therefore, donations can be transferred directly from donors to charities . The decentralized nature of the blockchain makes global transactions simple and reliable.
Digital protocol: Blockchain makes the sharing and storage of electronic data easier, and it can also be used to ensure that important documents and contracts cannot be tampered with at will.
Reduce expenses: Blockchain technology has great potential to simplify the management of charities, automate operating procedures and reduce intermediary costs.
Reduce taxes: Take an American donor as an example. If he donates a charity fund in Bitcoin, the charity can get the full amount (because there is no need to pay taxes). In addition, donors can also apply for high tax relief from government agencies.
But in other words, I personally would not accept some of the illegal proceeds of hackers for charity.
here are Robin Hoods who "rob the rich and help the poor" in the online world? A hacker group that profited from cybercrime donated money to charitable organizations, causing many doubts and ethical and legal problems.
The hacker group known as the "Darkside" claimed that they had extorted millions of dollars from a number of large companies, but now they want to do something to "make the world a better place."
The group posted on the dark web tax receipts for their bitcoin donations to two charitable organizations. One of the "Children International" (Children International) said that they do not source illegally obtained donations.
What do you think of this problem? This is just an example of our lives. Bitcoin will be used more and more widely, but the same freedom is relative, and we must actively respond.