Introducing Blockchain to the Church
Historically, churches and religious groups have received the highest proportions of charitable giving. In 2016, Giving USA pegged donations to religious organizations at $122.94 billion, or 32% of all charitable donations that year. However, while they still get the biggest chunk of charity, the amount that the church now receives has begun to drop, and has since the 1990’s. Paired with the economic recession, it has not be easy for churches to ask for donations from the community.
Why are Churches Struggling?
Due to the rapid pace of technology, many churches and faith-based organizations are struggling to keep up with the times. Churches hold tradition in high regard, and some are slow to adopt new practices and accept modern customs to suit younger generations.
Many churches still rely on outdated donation methods to generate revenue from their members — passing around the collection plate every week, and relying on their members’ generosity for donations to support the church has become less efficient, and relying on the congregation’s tithes and love offerings is fast becoming an inadequate form of income generation.
Another key issue raised against churches is the apparent lack of transparency in managing their supporter’s funds. Being that studies have show churchgoers are actually motivated to give more if the church is transparent about their finances, this is something the church needs to address.
Rather than fighting the growth of technology and not adapting, religious groups and churches need to grow with the times and move forward into a new generation of giving.
A Solution for the Humanitarian Community
SolomonsTouch (SoloTouch), is a platform to optimize and improve the humanitarian ecosystem by unifying churches and nonprofits by introducing blockchain technology into the market while creating a digital currency, (MillennialCoin), that will be use across the board for all humanitarian projects. The SoloTouch app provides the tools to make fundraising and financial management more efficient for churches and nonprofits. The vision is for SoloTouch to be used globally by all nonprofits, making donation and financial assistance to any sort of charity easier, more transparent, and better funded.
How does it work? SoloTouch allows you to strengthen your outreach as well as send and receive financial value through the digital currency Millennial Coin. Users can start their own fundraising projects, send donations securely via the SoloTouch interface, and create a Millennial cryptocurrency wallet.
This creates a unified digital community of all humanitarian, religious, and outreach-based organizations globally. Churches today are too scattered, with no organized global center that can efficiently manage resources.
A Financial Management Tool for Churches and Nonprofits
The SoloTouch App will make it easier for users to donate to registered churches and nonprofits. On the churches’ side, this also eliminates the need for tedious administrative work counting tithes, clearing checks, and managing everyone’s personal information and donations. While at the same time bringing a level of transparency that is unprecedented in the church.
SoloTouch maximizes resources for the church, whose staff and volunteers could then spend their time and efforts with other programs. Financial record work that now would demand a job is seamlessly done through the app, and frees the church more time and resources to spread their message, help the needy, and accomplish goals.
As a Fundraising Platform for the Community
SoloTouch also enables users to start their own fundraising projects. Similar to a GoFundMe, a member will be able to start their own project, display it to their congregation through the app, and raise funds to go directly to the issue at hand. This encourages the community to work together for the benefit of the church’s mission, and allows them to be part of it, while enhancing members’ morale by giving them more of a purpose.
SoloTouch’s system requires and creates transparency for these projects, so members will be able to see how much money was raised and where the money is being used. This will foster more trust between the donor and the beneficiary, and will ultimately help the church in reestablishing trust after a lack of financial transparency.
A Secure and Convenient Form of Monetary Value
SoloTouch uses the cryptocurrency Millennial Coin. Using secure blockchain technology — the same one that powers Bitcoin and all other crypto currencies — Millennial Coins will have the same security and decentralization feature of other digital currencies. Churches will no longer be dependent on the performance of one market for the value of their aid.
Additionally, those without bank accounts will be able to access financial aid through the mobile money market, which is expanding annually. This feature of SoloTouch will enable users to reach the bankless — many of whom are those in the greatest need — overcoming the physical barriers of traditional banks.
Banks and other online donation portals typically charge high transaction fees, sometimes up to 4% or more. SoloTouch charges less than 1%, meaning more resources for those in need.
Why the Church Needs SoloTouch
SoloTouch addresses the key issues in churches with an innovative and affordable solution, while at the same time solving an issue of trust. It saves a resources for the church, it will rebuild trust among the community members by providing transparency, it gives members easy and convenient ways to donate to a cause, it boosts their morale by allowing them to more involved, and it shields them from failing markets with a more secure alternative.
SoloTouch believes in giving everyone a fair chance. When your mission is to help people in need, SoloTouch will help you achieve that mission.
Purpose. Freedom. Outreach.
