A slightly sad, but palpable, excitement this morning when I saw that St Mungo's has launched a smart contract-enabled blockchain that links donations from crowdfunding to outputs and outcomes.
For my long-suffering colleagues Blockchain has been something that I've been going on about for months but probably I've lacked the imagination to see how to apply it best. Grant Thornton is heavily involved in its use in Fintech, but this is the first application of Blockchain I've seen in the charity sector.
I'm not normally given to hyperbole, but the potential to link together donors with the results of a charity (and circumvent the usual public discourse about transparency and fundraising costs) is enormous.
It also shows a charity at the bleeding edge of digital (which is not somewhere they've been before) so bravo St Mungo's - this could be huge!
Homelessness charity St Mungo’s has become the first charity to use a platform with blockchain technology to fundraise transparently. It is using Alice, a donation transparency tool, to raise money for a project helping vulnerable people in London. When people give, the charity only receives their donation if and when it achieves specific goals. These are listed on the appeal page and donors are kept informed of the progress the charity is making.