Using Bitcoin for Social Enterprises is an innovative solution that can bring several benefits.
Firstly, Bitcoin provides a means of accepting donations or payments from individuals who may not have traditional banking facilities but have access to Bitcoin. This can expand the potential donor base for social enterprises and help them reach a wider audience of supporters.
Additionally, using Bitcoin can enable faster and cheaper transactions, reducing the costs associated with transferring funds internationally. Social enterprises can also use blockchain technology – the underlying technology of Bitcoin – to increase transparency and accountability in their operations.
By leveraging the decentralized nature of Bitcoin, social enterprises can highlight their commitment to ethical and sustainable practices, fostering trust and engagement with their stakeholders.
Overall, by adopting Bitcoin, social enterprises can enhance their social impact, financial sustainability, and technological innovation.
You can accept Bitcoin donations on specialised platforms. Geyser and Tallycoin are two such platforms.
Geyser is, currently, the more popular of the two. Geyser takes a small fee from the donated amounts. Tallycoin does not take a fee. Tallycoin relies upon donations itself.
If you have a successful fundraising campaign you could pass on a donation to Tallycoin, and Geyser, too. Read more about Crowdfunding here.