The Times Australia
Fisher and Paykel Appliances
The Times Technology News

.

Crypto Expert John Fenga Reveals How Blockchain is Revolutionising Charity


One of the most persistent challenges in the charity sector is trust. Donors often wonder whether their contributions are being used effectively or if overhead costs consume a significant portion. Traditional fundraising methods can be opaque, with limited insights into allocating funds.

Blockchain technology addresses these issues by creating an immutable and transparent ledger of transactions. Every donation made via blockchain is publicly recorded, allowing donors to track their contributions from start to finish.

“Transparency is at the heart of blockchain,” said TDCR founder and CEO John Fenga, a cryptocurrency expert. “When donors can see exactly where their money is going, it builds trust and encourages more giving.”

“For example, organisations like GiveTrack by BitGive use blockchain to provide real-time project updates, showing donors precisely how their funds are being spent.

“This level of accountability is particularly appealing to younger, tech-savvy donors who demand greater transparency from the organisations they support.”

Traditional charitable organisations often have high administrative costs and significant donations go toward operational expenses rather than directly to beneficiaries.

Blockchain technology can streamline these processes, reducing the need for intermediaries and lowering costs.

Smart contracts, self-executing agreements built on blockchain, play a crucial role in this transformation.

These contracts automate transactions and ensure that funds are only released when specific conditions are met.

For instance, a smart contract could be programmed to release funds to a disaster relief effort only after verifying that a credible organisation is handling the aid.

“Smart contracts eliminate the middleman,” Mr Fenga said. “This means more money reaches the people who need it most, rather than being tied up in bureaucracy.”

Blockchain’s cost-saving potential is particularly significant for smaller charities, which often struggle with limited resources. These organisations can maximise their impact by reducing overheads and competing with larger, more established entities.

Decentralised fundraising platforms are another area where blockchain is making waves.

These platforms enable peer-to-peer donations without the need for centralised institutions, democratising philanthropy and expanding access to global donors.

Platforms like Giveth and Binance Charity Foundation allow individuals to donate directly to causes they care about, using cryptocurrencies as a medium of exchange. These platforms also provide tools for verifying the legitimacy of campaigns, reducing the risk of fraud.

“Decentralisation is about putting power in the hands of individuals,” Mr Fenga said. “With blockchain, anyone can contribute to global causes without worrying about intermediaries or cross-border barriers.”

Cryptocurrency donations also provide a lifeline in regions with limited access to traditional banking systems.

For example, during the 2022 Ukraine crisis, crypto donations were pivotal in delivering aid quickly and efficiently.

Blockchain’s borderless nature enabled donors worldwide to contribute directly to humanitarian efforts, bypassing traditional financial restrictions.

Despite its promise, blockchain philanthropy is not without challenges. The volatility of cryptocurrencies can pose a risk for charities, as the value of donations can fluctuate significantly.

To address this, some organisations immediately convert crypto donations into stablecoins or fiat currencies to preserve their value.

Another challenge is the technical complexity of blockchain, which can be a barrier for smaller charities and less tech-savvy donors. Education and user-friendly platforms will be crucial for driving adoption.

“Every new technology faces growing pains,” Mr Fenga said. “But the opportunities far outweigh the challenges.

“As the ecosystem matures, we’ll see more innovative solutions that make blockchain accessible to everyone.”

One such innovation is the rise of tokenised giving, where donors receive tokens representing their contributions.

These tokens can prove participation, fostering a sense of community and engagement.

Some platforms even reward donors with NFTs (non-fungible tokens) to commemorate their support for a cause.
Active Wear

Times Magazine

World Kindness Day: Commentary from Kath Koschel, founder of Kindness Factory.

What does World Kindness Day mean to you as an individual, and to the Kindness Factory as an organ...

In 2024, the climate crisis worsened in all ways. But we can still limit warming with bold action

Climate change has been on the world’s radar for decades[1]. Predictions made by scientists at...

End-of-Life Planning: Why Talking About Death With Family Makes Funeral Planning Easier

I spend a lot of time talking about death. Not in a morbid, gloomy way—but in the same way we d...

YepAI Joins Victoria's AI Trade Mission to Singapore for Big Data & AI World Asia 2025

YepAI, a Melbourne-based leader in enterprise artificial intelligence solutions, announced today...

Building a Strong Online Presence with Katoomba Web Design

Katoomba web design is more than just creating a website that looks good—it’s about building an onli...

September Sunset Polo

International Polo Tour To Bridge Historic Sport, Life-Changing Philanthropy, and Breath-Taking Beau...

The Times Features

Australia after the Trump–Xi meeting: sector-by-sector opportunities, risks, and realistic scenarios

How the U.S.–China thaw could play out across key sectors, with best case / base case / downside...

World Kindness Day: Commentary from Kath Koschel, founder of Kindness Factory.

What does World Kindness Day mean to you as an individual, and to the Kindness Factory as an organ...

HoMie opens new Emporium store as a hub for streetwear and community

Melbourne streetwear label HoMie has opened its new store in Emporium Melbourne, but this launch is ...

TAFE NSW empowers women with the skills for small business success

Across New South Wales, TAFE NSW graduates are turning their skills into success, taking what they h...

The median price of residential land sold nationally jumped by 6.8 per cent

Land prices a roadblock to 1.2 million homes target “The median price of residential land sold na...

Farm to Fork Australia Launches Exciting 7th Season on Ten

New Co-Host Magdalena Roze joining Michael Weldon, Courtney Roulston, Louis Tikaram, and Star Guest ...

How GST Revenue is Allocated to Each State or Territory

The Goods and Services Tax (GST) is one of the most important revenue streams for Australian gov...

In 2024, the climate crisis worsened in all ways. But we can still limit warming with bold action

Climate change has been on the world’s radar for decades[1]. Predictions made by scientists at...

Higher than expected inflation report dashes hopes for further RBA rate cuts

Inflation jumped 1.3% in the September quarter, above economists’ and the Reserve Bank’s own exp...