Cryptocurrencies and Non-Profit Organizations: Fad or Future?

Image by Yusuke Hana

Steemit has the potential to offer new revenue streams for non-profit organizations looking to compete in the attention economy. Myself and a group of other contributors from Temple University are conducting an experiment that is detailed here, by Hive account@kenfinkel and incubated by Hive account@sndbox.

Over the course of four months of posting around themes related to public history and nonprofit organizations we hope to demonstrate how Steemit can generate value by telling interesting stories. Tales about wandering aimlessly or opium parties from 1918 depict how any topic can garner votes that in turn translate to currency. Pooling together the value generated by a cohort of 15 users will provide the funds we will then distribute to three organizations here in Philadelphia related to public history/heritage.

As part of this experiment we should also consider which organizations are most primed to interact with crypto currencies and new ways to fundraise in the 21st century. The organizations should be open to innovation and have a healthy risk tolerance for new ideas, or at the least a savvy intern who can blog.

Philadelphia has a deep history for innovation and a sizable number of small non-profit organizations.

^{Image courtesy of Hive account@kfinkle from his presentation "Evolution of the History System in Philadelphia’s Cultural Landscape" Feb 19, 2018.}

Smaller organizations that are nimble and driven by focused missions are better suited for crypto currency ventures as they generally have less risk averse board of trustees and a hunger to try new fund raising tactics.

A platform like Steemit also offers new opportunities for membership driven non-profit organizations to interact with their constituents. Gone are the Facebook group events that don't make a dime. Hello content upvoted by a coordinated group of whales, porpoises and minnows where every interaction creates value for the group.

What type of small non-profits in Philly, specifically, could benefit from experiments in Steemit? How about these to name just a few:

• Bartrams Garden
• The Painted Bride
• Asian Arts Initiative
• In Liquid
• The Plastic Club
• The Athenaeum of Philadelphia
• Spiral Q

Feel free to offer more suggestions in the comments.

^{100% of the SBD rewards from this #explore1918 post will support the Philadelphia History Initiative Hive account@phillyhistory. This crypto-experiment conducted by graduate courses at Temple University's Center for Public History and MLA Program, is exploring history and empowering education. Click here to learn more.}