Australians love giving to those less fortunate. We are the sixth most generous nation in the world, donating and bequeathing over $10 billion a year to charities, with over 50,000 charitable institutions registered nationally.
But in Australia, as in many other countries, charitable donations are falling. Increasing cynicism in the face of repeated media scandals about corruption and inefficiency at charities is a big part of the problem.
Did someone say low trust and high costs? Around the world, dozens of innovators have simultaneously come to the same conclusion: this is precisely the kind of problem that blockchain technology and cryptocurrencies are designed to solve.
Charities have accepted cryptocurrency donations for years, and for some, it is now the fastest-growing type of donation. But the world is only beginning to discover the full potential of crypto-philanthropy.
The transparent, traceable and low-cost transactions that blockchain systems deliver promise to revitalise our faith in charitable giving.
Organisations from UNICEF to English Heritage — the charity responsible for ancient monuments such as Stonehenge — are currently experimenting with cutting-edge blockchain systems for donation collection. Tech giant IBM is sponsoring a contest for blockchain platforms that can be used for charitable donations.
Exciting developments in the field include special-purpose charity cryptocurrencies such as GiftCoin, AidCoin and Cleanwatercoin, which raises funds to bring drinkable water to poor communities.
Alice is a social funding platform built on the Ethereum blockchain that helps charities raise more funds by being radically transparent about their use and impact, while at the same time slashing processing charges and administration costs.
Its goals include reducing the millions of dollars in social funding wasted every year on ineffective projects, restoring the trust lost in charities, and helping to boost small but successful charitable schemes that often struggle to scale because they don’t have enough visibility.
Australia’s new crypto-charity coin
The Liven app is used by hundreds of thousands of Australians, allowing them to get 10–25% of their bill spend at over 1,000 restaurants and bars back in Liven’s rewards currency, LVN.
Those users can either save that credit, or donate it to a supported charity, presenting an engaging, cost-effective fundraising channel that allows charities to access an audience of affluent consumers at a time when they are most amenable to giving.
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Liven is an authorised fundraiser for many of Australia’s most reputable non-profit organisations, and its system currently allows users to share all or part of their Liven Cash rewards with a charity of their choosing.
Now Liven’s new cryptocurrency — LivenCoin, available for presale ahead of its launch later this year — is providing a new fundraising channel for Australian charities that is both transparent and efficient, using blockchain to show donors exactly where their contributions are going while simultaneously slashing charities’ fundraising costs.
Liven’s crowdfunding platform will allow any registered charity, community organisation or even social group to fundraise, setting up wish lists for items that can be directly paid for by users of Liven.
Integration of LivenCoin payments into suppliers’ websites means it will provide full transparency, showing users precisely where their donations are going, right down to the point of item delivery.
Key Liven charity partners include the Royal Society for Prevention of Cruelty to Animals (Victoria), beyondblue, National Breast Cancer Foundation, Salvation Army, OzHarvest, Very Special Kids, The Heart Foundation and Move Australia.
Read more about how The LivenPay project is building a stable cryptocurrency for the real world, and making the capabilities and benefits of blockchain technology accessible for brick and mortar businesses and everyday consumers in this announcement.