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Charity unchained – how blockchain can help rebuild trust in the charity sector

Charity unchained – how blockchain can help rebuild trust in the charity sector
Within the atmosphere of declining public trust in charities and calls for greater levels transparency, blockchain technology has the potential to re-build confidence and reshape the charity and NFP sector for the better.
The trust deficit

A recent report by the Australian Charities and Not-for-profits Commission (ACNC) points to a steady decline in trust and confidence in charities by the Australian public over the past five years, with those having high levels of trust declining from 37% in 2013 to 30% in 2015 and down to 24% in 2017[1]. According to the same research, and contrasting the declining levels of trust in charities, trust in other institutions such as the High Court, The Australian Taxation Office (ATO) and Federal Parliament has increased since 2013. Interestingly, the declining trend in trust in charities is occurring in many other countries: with public trust in charity sector dropping to historic lows in the UK[2] and trust in NFPs falling below 50% for the first time in the U.S.

Continue reading at:  http://blog.deloitte.com.au/blockchain-technology-trust-charity/

 

 

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