As a new digital future unfolds before us, many are left wondering whether to stay loyal to “old-school” ways or if — and when to adapt to these new technologies.
Cryptocurrency or “crypto” as it is better known and NFTs (non-fungible tokens) are two of the latest financial trends. Crypto made its mark in the financial sector over these last few years, think Bitcoin, Ethereum, Litecoin, and Stellar, just to name a few. In fact, three of the youngest billionaires on Forbes’s list earned their wealth from crypto. Because of its outstanding success and how quickly it’s grown, those of us in the philanthropic world are searching for ways to utilize these new forms of currency.
“We all hear about cryptocurrency — and interest and investing in these products are moving beyond millennials and increasingly to more financially seasoned investors”, says Maddy Dychtwald from The Wall Street Journal.
Researchers predict that donations made in the form of cryptocurrency to nonprofits like ours will become increasingly more popular, and students around the country are already beginning to explore this transition. In February, the cryptoeconomics lab at the University of Cincinnati’s Carl H. Linder College of Business held a digital flashpoint series with panelist discussing their experiences with accepting and using cryptocurrencies to advance their philanthropic mission. It offered excellent insights, and I expect we will see more similar programs in the future.
We are starting to think about how we can integrate crypto investing strategies into the way we do business. So, if you want to talk crypto, let us know!