Decentralized autonomous organization (DAO) has become a widely accepted concept amongst blockchain adopters, and it has the potential to reshape investments in the cryptocurrency industry. DAOs have unlocked new possibilities for the blockchain industry, and many believe that this is just the beginning. It is very likely that DAO can rebuild the world’s economy from the ground up, and change the way that society functions as a whole. Most importantly, it can empower community governance, such that more members can directly participate in organizational management.
The benefits of DAOs are apparent – it can accelerate the development of blockchain organizations, and provide a brand-new method of management at the same time. As more users participate in community governance, it will give rise to the trend of decentralization amongst mainstream business organizations, creating a new organizational structure never seen before. The same benefits can be readily observed in charity organizations.
Donors often ask this question: “where exactly are my donations going towards?”
The sad truth is that we often cannot get an answer to that. The public often wants to know about the business activities and financial information of charitable organizations. However, reports have shown that charitable organizations are usually reticent about information such as fundraising purposes, new project, and annual financial accounting reports.
In 2022, the Omicron variant has continued to spread the pandemic around the world, and has seriously affected the livelihood of some people. However, a heartening fact is that more companies, institutions and individuals are establishing philanthropy causes.
However, due to lax supervision and lack of transparency, the support given to traditional charities often cannot go out fast enough to those in need. As a multi-chain decentralized platform, HyperDAO has created a charity protocol that provides donors with a more transparent, open and fair fundraising process, so that the love given by donors can really help those who truly need it.
HyperDAO’s Charity Protocol
As a decentralized charity protocol, HyperDAO aims to assist not-for-profit organizations, charities, universities, or even individuals to participate in philanthropic causes to help more people, ultimately making the world a better place for all. The protocol is also actively working to include blockchain-inclusive charities on its list. HyperDAO's charity protocol has fully utilized the features and advantages of blockchain technology, such as decentralization, immutability, transparency and equality, in order to make a true difference for those in need.
HyperDAO provides a strong layer of transparency through the use of blockchain-based technology. This transparency provides donors with a way to connect with charities on a deeper level to protect donors, while allowing donors to see exactly how their donations support the community and other charitable causes.
HyperDAO's decentralized charity platform aims to make philanthropy more transparent, efficient and fair through blockchain technology and the company has developed a fully transparent protocol using blockchain technology to ensure the traceability of donations from the donor to the ultimate beneficiary. In the near future, HyperDAO will carry out more charity projects to truly realise the full potential of blockchain for philanthropy.