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Restoring Trust with Blockchain

Dahna Goldstein and Allison Price wrote about how blockchain can help restore trust in nonprofits for the Nonprofit Technology Network (NTEN)

There’s a growing trust problem. It isn’t just government institutions or big banks; people are losing trust in nonprofits around the world. According to the Edelman Trust Barometer, trust in nonprofits dropped 9 points among the general population, and a staggering 22 points among the informed public from 2017 to 2018.

It is unfortunately easy to understand why trust in nonprofits in particular is on the decline. There have been several high-profile scandals in the nonprofit sector that still come to mind, from the Red Cross’ hurricane relief efforts in Haiti to Komen’s executive pay structure. Recent news about Oxfam’s efforts in Haiti won’t help matters. Governance and leadership issues that failed to prioritize transparency and accountability are common themes in nonprofit scandals. And although great work continues to flourish across many organizations, the nonprofit community as a whole struggles to effectively and efficiently demonstrate their impact to their donors and the general public.