How xHumanity supports charities to securely grow
The biggest challenges for nonprofits and charities are connecting with their communities and making donations faster and safer. xHumanity is a blockchain technology-based application that supports user groups cultivating social and cross-cultural interactions and provides them with an unprecedented secure environment.
How does blockchain technology help charities?
A cryptocurrency like Bitcoin is a digital currency that is not tied to a government or central bank. This is made possible by blockchain technology, a new type of ledger for transactions, the ownership and maintenance of which is controlled by all users rather than by a government agency.
In response to the COVID-19 pandemic, digital transformation has accelerated in many areas, and one of the results has been the gradual increase in the adoption of this new technology. To put this in context, the size of the global blockchain market is forecast to grow from $3.0 billion in 2020 to $39.7 billion in 2025. Numerous industries have shown a growing interest in enhancing their processes with blockchain technology due to its benefits:
- Greater transparency
- Increased security
- Reduced costs
- True traceability
- Improved speed and high efficiency
Just as if we summarized what challenges charities have today. Charities and non-profit organizations need to reach out to the people and build thriving communities that do much more than invest in a cause. And this is where xHumanity’s blockchain social media groups come in.
How xHumanity social groups work for charities?
The lack of transparency and credibility is one of the main reasons why people do not donate or invest in good causes. As a social platform, xHumanity seeks to build communities based on a common purpose, which is a good foundation for charities. These social groups provide a high level of transparency for donors. They can see where the money is going and if it is achieving the purpose they want to contribute to. Using this platform builds trust in the charity, which in turn attracts more potential donors. High transparency on the xHumanity platform eliminates fake charities, empowers communities, and ensures that organizations receive more funding.
Through the platform, charities can make their projects visible to donors, allowing easy access and greater visibility. All projects are vetted before being enabled on the platform. Funds are provided to initiate and implement the projects (e.g. building materials, food, transportation). A great example is charities working in developing countries to provide education and food to children living in poverty. Through xHumanity, charities can connect with potential donors and discuss project details while ensuring their funds reach those in need.
Beneficiaries can also create smaller, pre-qualified projects that help them reach out to their communities and raise awareness and funds for local causes. According to xHumanity’s mission, equality must be maintained to objectively and transparently represent our members and help people to connect based on common interests.