$390 billion is the estimated charitable giving (over $250,000 for every organization)
$1.5 million tax exempt organizations exist in the United States
Unfortunately, new forms of philanthropy like social impact investing, crypto donations, crowd-sourcing and micro-transactions are not reported
Keep a finger on the pulse
Measuring the Social Economy
The social economy is close to a $400 billion dollar industry in the United States, yet economic investment data does not exist for the sector the way it does for corporate economies like manufacturing, agriculture, mining and construction. Yet, donors, nonprofits, researchers and other key stakeholders in the social economy require current and reliable data to drive strategic decision making. Without accurate economic indicators stakeholders in the social economy instead rely on the 'closed' systems and one-off independent research to understand critical investment trends in the social sector.
Non nefarious intent
The lack of transparency in the social economy about ‘who is investing what type of social change’ is not because of nefarious intent. Instead this barrier to knowledge about the social economy exists because:
FirstThe data exists in private data silos behind secure firewalls
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SecondA platform to contribute data does not exist
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ThirdThe practice of data philanthropy has not been normalized
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Measuring the Impact of the Social Economy
Understanding the impact of investments in the social economy is the lofty goal of many brilliant researchers and educational institutions. As a result, evaluating impact is not not the goal of the Blockchain Data 4 Good platform. Instead BD4G will provide three functions for these important research projects: (1) a source of data for impact research, (2) a repository for economic funding data collected and (3) a powerful platform for distributing research to population served, based on links to BD4G records.
Blockchain Data 4 Good
A data philanthropy platform enabled by blockchain and artificial intelligence technology
A data philanthropy platform enabled by blockchain and artificial intelligence technology
Breaking Down the Blockchain Data 4 Good project
(1) Who are the key stakeholders?
Donors, investors and funders in the social economy: When an individual or funding institution makes a donation to a nonprofit, they can also practice ‘data philanthropy’ and make an additional donation of data. By contributing non-personal data about the donation, grant or social impact investment, donors are able multiply the impact of their financial contribution.
Nonprofits and tax exempt organizations: Every tax exempt organization stores the same ‘donation’ information on their internal systems, and has the same capacity to participate in the data philanthropy economy. Nonprofit organizations can donate data about each grant or charitable donation they receive.
Researchers and Educational Institutions: Understanding and measuring impact is the goal of many researchers, however it is not the goal of the Blockchain Data 4 Good platform. The platform will provide a wealth of information for researchers and also a platform for saving the data they may have accumulated during their research.
New Philanthropists: Easy access to a wide spectrum of nonprofits and online mico-donation capabilities enables new forms of philanthropy. Donors can choose nonprofits by location, population served, type of organization or any of the other metrics available on the grant record. Blockchain technology enables secure and low transaction costs enabling micro-donations. Think about teaching a child philanthropy by loading their weekly allowance in their own crypto wallet and enabling quarter donations for each nonprofit in their portfolio.
Donors, investors and funders in the social economy: When an individual or funding institution makes a donation to a nonprofit, they can also practice ‘data philanthropy’ and make an additional donation of data. By contributing non-personal data about the donation, grant or social impact investment, donors are able multiply the impact of their financial contribution.
Nonprofits and tax exempt organizations: Every tax exempt organization stores the same ‘donation’ information on their internal systems, and has the same capacity to participate in the data philanthropy economy. Nonprofit organizations can donate data about each grant or charitable donation they receive.
Researchers and Educational Institutions: Understanding and measuring impact is the goal of many researchers, however it is not the goal of the Blockchain Data 4 Good platform. The platform will provide a wealth of information for researchers and also a platform for saving the data they may have accumulated during their research.
New Philanthropists: Easy access to a wide spectrum of nonprofits and online mico-donation capabilities enables new forms of philanthropy. Donors can choose nonprofits by location, population served, type of organization or any of the other metrics available on the grant record. Blockchain technology enables secure and low transaction costs enabling micro-donations. Think about teaching a child philanthropy by loading their weekly allowance in their own crypto wallet and enabling quarter donations for each nonprofit in their portfolio.
(2) What data is being donated?
Digital data records about donations, grants and other investments in the social economy. Data can be donated via the online portal or an app. One record for each donation. Every data philanthropist determines their own level of relevant data that is included. Minimum data is amount and date. event including: from, to, amount, date, purpose, population served and other relevant information
(3) Why is this data important?
Without a ‘finger on the pulse’ of the donation pipeline, the sector is unable to steer investments towards optimal or even balanced giving. Multiple donors sometimes unknowingly fund the same project, while multiple nonprofit organizations fold. Collaborators and collaborations will be easier to find based on data about previous work funded. Micro-donations provide a new funding source for nonprofits. The platform enables a democratized ‘google’ for all nonprofits, one page per nonprofit regardless of size.
(4) How will it work?
Using blockchain and artificial intelligence (AI) technologies we will create a platform that enables data philanthropy and supports a community of data curators and data taggers. When the data that fuels the social economy is assimilated, aggregated, vetted, AI enhanced and made easily available to all stakeholders in the social economy, collaborations and data informed decisions are obtainable.
Next Step
If you are a nonprofit, individual donor, represent a donor organization or are a researcher in the social sector, please sign the data pledge form and consider writing a testimonial about how this investment data could change your work.
If you are an investor interested in learning more about the project, please contact me via email
SharonBurns at CriticalBlink dot com
If you are a nonprofit, individual donor, represent a donor organization or are a researcher in the social sector, please sign the data pledge form and consider writing a testimonial about how this investment data could change your work.
If you are an investor interested in learning more about the project, please contact me via email
SharonBurns at CriticalBlink dot com
Blockchain Data 4 Good: Answering the important questions
- What if a donor could find every nonprofit that was actively working on a specific social issue?
- What if a nonprofit knew every other nonprofit and could easily find collaborators?
- What if a researcher had accurate and recent data about investments in specific geographies, or topics?
- What if a database existed with every investment made in the social economy, and the data was current, accurate and easily accessible?
- What if we donate our data to social good just like we donate our money our money to social good?
- Can we normalize data philanthropy?
Blockchain Data 4 Good: Data curated by the social sector, for the social sector
The Blockchain Data 4 Good platform provides a self-publishing platform for investments in the social sector. Key stakeholders in the social economy all have valuable data. Individual donors, foundations, governments, researchers and nonprofits can contribute data to the platform, while retaining ownership. When the investment data is published, it is accessible to member institutions, individual contributors and search engines. Easy access to accurate and current investment data in the social sector increases the likelihood that the data will be used for research, capacity building, impact analysis, collaboration opportunities and future investment decisions by other individuals and entities.
Tracking individual donations, grants (private and government) and now social impact investing on the platform will provide near-real time data for important decisions and research about the social economy. Those individuals and entities who engage in the Doers and Donors platform through the data philanthropy will be part of the community with access to robust and relevant data.
Building on the work already done by many, Blockchain Data 4 Good will support the community to create a shared data and knowledge base for the social economy.
Tracking individual donations, grants (private and government) and now social impact investing on the platform will provide near-real time data for important decisions and research about the social economy. Those individuals and entities who engage in the Doers and Donors platform through the data philanthropy will be part of the community with access to robust and relevant data.
Building on the work already done by many, Blockchain Data 4 Good will support the community to create a shared data and knowledge base for the social economy.