The internet technology is rapidly changing the way we approach many aspects of our lives today, including giving towards charity. In the few years of existence of the internet, donating for charity purposes has significantly improved, with more focus being made on streamlining the entire process of donating for charity purposes, mobilization for funds, and management of the funds to ensure they achieve the intended goal. The internet is making a huge positive impact on philanthropy in various ways.
Mobilization for Resources
The ability of internet technology to integrate the world through sharing of information and social platforms enables people to mobilize for resources for charity purposes. Social media platforms are a great way of reaching out to thousands of enthusiastic donors through the sharing of relevant information such as the various popular charity causes in our time. This significantly improves the participation of the public in terms of giving towards charity.
Thanks to the blockchain technology, accountability in the utilization of funds can be enforced at a greater level of accuracy. The blockchain technology concept allows a donor to donate funds towards a specific cause and track the utilization of those funds to ensure that they perform the intended work. This level of accountability motivates more enthusiastic donors to give towards charity.
Donating More Readily
Before the invention of internet technology in the financial sector, unenthusiastic philanthropists could only donate by writing a check or giving out cash donations. Thanks to the fintech technology and its various revolutions, donors have an opportunity to transfer money from their bank accounts directly into a specified donations account. Donating via text attracts more interested philanthropists, thereby increasing the net amount of funds donated.
The Crowdfunding Concept
Social integration allows enthusiastic philanthropists to come together and raise funds towards a specific cause. Crowdfunding solicits thousands of interested donors to raise large sums of money which can achieve a specific purpose. Crowdfunding is particularly useful in cases where large projects need to be undertaken. Pooling together small donations allows small donors to feel a sense of importance for contributing to a greater project and completing it successfully.