Good Hoomans: Web3 Meets Innovation & Philanthropy

Philanthropy’s big problems

One of the biggest issues charities face today is their heavy reliance on government grants and contributions as their primary source of income. The race for such funding is exceptionally competitive within each sector, as charities fight for the same grant money year after year. And if fundraising needed to be more tricky, two years of COVID-19-related lockdowns have left most charitable groups unable to generate cash via their usual in-person fundraising events.

Blockchain: a better future for charities

At first sight, blockchain is the ideal solution for many of the problems encountered by the philanthropic sector. Blockchain technology allows donors, recipients, and management to establish mutual trust and transparency. It also has the potential to make patronage more transparent, allowing donors to understand the direct impact of their contributions.

Some benefits of adopting blockchain technology are as follows:

1. Building Trust

By increasing the transparency and observability of real-time donations from sender to recipient, charities may demonstrate that funds have indeed been distributed to individuals or causes in need.

2. Cutting out the Middleman

The value of contributed funds is often reduced by administrative fees, operating expenditures, and bank charges when processed via current financial systems. People may donate directly to social causes using the blockchain and thus avoid the expenses of utilizing middlemen to process contributions.

3. Blockchain Transparency

By introducing blockchain technology to document charitable contributions, donors can trace their funds’ actual location and usage. Blockchain technology will increase both transparency around philanthropic organizations and the responsibility of both donors and operators concerning fund distribution.

With its irreversible, transparent, and real-time capabilities, the adoption of Blockchain Technology and cryptocurrencies can completely change how people donate and the philanthropic sector as a whole.

A new way of giving…

The growing frequency of crypto donations indicates that this new kind of “giving” will have a long-term impact on the charity sector and may even revolutionize philanthropy. According to Fidelity Charitable (the charity arm of the financial services firm that advises donors on charitable giving), around 45% of crypto investors donated to charities in 2020 — significantly higher than the 33% made up by general investors. Overall, Fidelity Charitable received approximately $331 million in crypto donations last year — up from the meager $28 million donated in 2020.

This new notion — crypto for charity — has already prompted fresh waves of new donors to enter the world of philanthropy. Younger people can now not only consider giving back but directly help smaller organizations that traditionally compete for contributions. This is likely only the beginning, as digital assets become more ingrained and an inextricable part of our lives.

Introducing Good Hoomans

Good Hoomans leverages NFTs as a novel and transparent means of achieving humanitarian and charitable objectives. Ultimately, the project aims to enhance transparency and democracy in charitable giving and philanthropy.

The main goal that Good Hoomans seeks is to build a community of like-minded individuals who are enthusiastic about tackling a variety of good causes and positively impacting the world. The intention is to leverage NFTs and DAOs to bring genuine democracy via the blockchain by enabling token holders to vote, be directly involved in the decision-making process, and drive the impact the organization will have on philanthropic initiatives.

Good Hoomans for a Great Future

Blockchain is undoubtedly a game-changer for charitable organizations because of its decentralized nature, total transparency, and irreversible preservation of information. It has the potential to build a worldwide giving ecosystem in which donors can easily trace their contributions and have a tangible impact on important causes.

Good Hoomans seeks to pursue future projects that will address not just environmental concerns but also humanitarian, endangered species conservation, and a variety of other fundamental issues that impact the future of our world.