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The Interview: Decentralizing Philanthropy

Can the blockchain and DAOs bypass the NGO world's problems with overhead costs?

NFTs have become most well-known as pieces of collectible digital art, from CryptoKitties to Bored Apes. But as creators continue to experiment with the applications of non-fuNFTs have become most well-known as pieces of collectible digital art, from CryptoKitties to Bored Apes. But as creators continue to experiment with the applications of non-fungible tokens, the world of NFTs is growing more and more diverse and complex. Crystal Rose Pierce, the founder of Lighthouse NFT Smart Gallery in San Juan, joined Roundtable to discuss the next generation of NFT applications, from design to collectibles to sports. In this segment, Pierce discusses disintermediation and how DAOs can be used for fundraising.

Considering the blockchain’s ability to cut out intermediaries of all kinds, Pierce argues that philanthropy could be the next big site of decentralization. The NGO world remains mired in bureaucracy and centralized hierarchies, she notes, and DAOs, in particular, allow donors to reach their recipients directly.

“It's an old creaky incumbent system that relies on solely on fundraising. So overhead capital has to come in, and basically if you donate a dollar to a traditional, very large nonprofit today, you get 10 cents of impact,” she says. “We want to do compounding impact. We want to get rid of all of those middle layers and go directly into the cause.”

Pierce cites the crypto community’s support for Ukrainians as an example of the future of decentralized philanthropy.

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“We’ve seen this with Ukraine and with people being able to donate directly to not only the government, but all of the causes on the ground. The money goes straight to them,” she says. “Crypto allows that transaction to happen instantaneously and to be able to have instant impact. We want a dollar to become a dollar of impact.”

Watch the full discussion below:

Roundtable Guests:

Crystal Rose Pierce, Founder, Lighthouse NFT Smart Gallery