by Nils Smith, Chief Strategist Social Media+Innovation
“Do you know anything about Bitcoin?”
Perhaps you’ve been asked this question at one point or another. While it’s the best-known version of cryptocurrency, the fact the average person can refer to “Bitcoin” with some level of recognition goes to show that the subject of cryptocurrency has hit the mainstream.
While it’s a good idea for every nonprofit to have a working knowledge of cryptocurrency, it’s even more important that you understand why you should care about cryptocurrency in the first place.
The Next Milestone
Money makes the world go ’round. And for nonprofits in particular, donations drive their ability to accomplish their mission. So it’s crucial to stay ahead of the curve and get educated on the opportunities that have the potential to drive an organization forward.
The technology driving cryptocurrencies continues to change at blinding speeds – and has the possibility of replacing many of the industries and models that we rely on every day. Having served in nonprofit leadership myself, I believe these changes will have significant implications for organizations across the board for the next 10–20 years.
So, why should you care? Over the past decade, we have seen a continual shift in how donations are made shifting from checks in the mail to digital transactions on a website. As that shift continues, we are seeing a move from digital donations on a computer to digital donations on a mobile device.
The world of fundraising is shifting fast around these new technologies, and it’s my belief that cryptocurrency may very well be the next milestone in the timeline.
Money Is Changing
Every form of currency has a story. Every currency has gone through changes and exchanges – and will continue to change. The creation and proliferation of cryptocurrencies is an exciting development that seems as though it could be another evolution in the realm of money.
On the other hand, the experiment may fizzle out under the pressure of complex global systems and the governments that rely on the current financial realities of today. Time will tell.
Either way, it’s best to stay in the know on developments that may affect the long-term growth of your organization, and I want to help you in the process. Because one thing we can all agree on is that the next few years are going to be very, very interesting.
For more information on the topic of cryptocurrency, check out my book Crypto For Good: Demystifying Cryptocurrencies for Nonprofits.
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Ready to take the next step? Dunham+Company is here to help your organization have more impact and establish deeper relationships with your donors and supporters. Contact Bethany Cranfield at 469-454-0100 to get more information.