Philanthropy is something that is done by the generous and kind people all over the globe and it does not differentiate between anyone regarding his status or any other thing related to the one who requires help and it is not that simple to be a Philanthropist and it depends upon the Philanthropist about his investment of money to a good cause, either he can donate directly to the cause or use it to develop a tool that can eradicate the main problem. This also raises the Philanthropist’s status in society and his popularity among all kinds of people and to make some political or economic decision himself.
We can take the Bill & Melinda Gates Foundation as an example, as they work towards the real cause of the people and they invest a lot and helps millions of people worldwide and are considered as true Philanthropists by the world. Anyone who invests a lot into Philanthropy also needs the Return of Investment and a perfect way to ensure this to invest in the sectors that can deliver back the Investments and also makes the Investing person famous for this Philanthropy effort. A classic example could be the current situation where the Gates Foundation has donated approximately $250 million to develop a vaccine and other for other works and Bill gates has also stepped down from Microsoft board so that he can devote more time to Philanthropy.
There may be someday when everyone has to respond to the answers about the expenditure of the money towards Philanthropy. The charities that help towards Philanthropy need a lot of answers because that money is getting stolen by any political leader or by a terrorist organization or getting stolen through cyber crimes and this does get the notice of the people not until anyone finds about this or by the government. To counter this cybercrime securities have suggested using better ways to secure the money i.e., to use the digital way of money, using Cryptocurrency, Blockchain that uses cryptography or any other way. Blockchain is the fastest growing and safe way for a charity organization to use as it reduces administrative cost, provides more accountability and it shows the investors about their funds and where it is used and to whom and it restores the lost confidence of the investors about investing money in any charity organization. Blockchain is transparent and safe and it is being used by some charity organizations lately, Binance Charity Foundation is using its blockchain-based method to collect donations for Philanthropic work and it ensures that the funds are reached to persons in need and is transparent to find it. Since these are technologies are not expensive these have support from a large number of people and everyone trusts it for its safety, accountability, and transparency. This will growing support will push other charity organization to adapt to this method and if someone does not adapt to it, it will raise a lot of questions and people lose their trust to these organization and leads to other larger problems and people stops calling them as Philanthropist.
The Gates Foundation is not some charity organization to show the spend money to the investors, they spend their own money but everyone feels that even the Gates Foundation needs to be transparent about the spend, invested money and their return of Investment but if their activities can be shown to the public or the government and this makes Gates popularity even bigger and makes everyone to accept that he is true and honest Philanthropist and he does not use his organization for his personal needs and by using Blockchain method to bring transparency and proves that a “True Philanthropist has a heart of human greatness”. Let’s hope that the Gates Foundation brings this Blockchain way for philanthropy.