Corporate support for charities and non-profits is not a new thing but in recent years, many have incorporated this practice into their business model as a reflection of the modern corporate’s growing emphasis on shared social responsibility.
Blockchain companies are not the exception and even act as enablers advocating for the use of cryptocurrency and public ledger systems to take advantage of the transparency and cost-effectiveness of underlying blockchain technology. This has resulted in more and more humanitarian organizations accepting cryptocurrencies, using blockchain platforms that act as a bridge between non-profits and donors.
One quirk of cryptocurrency owners is that they are known to be generous. According to research, 45% of cryptocurrency owners donated $1,000 or more to charitable causes, compared to 33% of the general investor population in 2020. The same research suggests that most of the cryptocurrency owners are millennials who are also inclined to give to charities more than other generations.
Looking at these statistics is reason enough to get you on board with philanthropic work but let’s see why else you should start making charitable contributions sooner rather than later.
Why should blockchain companies make charitable contributions to non-profit organizations?
- It’s good for employee morale. Some studies show that employees believe it’s no longer acceptable for companies to only prioritize profit, with 88% thinking that companies should focus on making a positive impact on society as well. Employees feel better and more motivated when they are a part of an organization that leads with purpose and cherishes a giving culture. They are more engaged and their efforts are much more genuine which results in more satisfied clients and increased sales.
- It gets people to choose you over competitors. Research from 2019 found that 77% of consumers are motivated to purchase from companies committed to improving the world. Some people go even further by actively looking for companies supporting a good cause, even if it means paying a higher price.
- Giving away to non-profits helps you raise the profile of your organization in the eyes of the public. Your community, investors, employees, even competitors will appreciate you more for your genuine effort to make a lasting positive impact on society.
- It helps make a better image for the blockchain industry. The blockchain community is already known for its generosity and philanthropic activities. By donating to non-profits, you‘ll join the ranks of successful companies helping make the world a better place, participate in promoting the blockchain industry, broadening its influence, and maintain this positive image.
Successful blockchain businesses are the ones that should lead the change for the better and set an example for others
There are many ways you can secure the funds for the greater good. You can pay periodic donations or partner up with platforms such as Fidelity Charitable, The Giving Block, and Binance Charity. You can even start your foundation if you want to get seriously involved.
In any case, choose the charity that aligns with your mission, be genuine about it, and don’t shy away from giving it visibility. Let everyone know about the positive impact you’re trying to accomplish. Your customers would like to see the change they are helping create. Announce it in a crypto press release, put a counter on your website recording how much you’ve given away, or, to make it more individual, present customers with the result of their contribution in a personal email or as an automated message after each purchase. Make each donation count.
Disclaimer: Bitcoin PR Buzz is not affiliated with any organization mentioned in this post thus, we cannot endorse cooperation with any of the above-mentioned organizations.