The HashCash CEO feels rising blockchain projects focusing on charity funding reflect positively on DAOs and NFTs.
Blockchain pioneer and HashCash Consultants founder Raj Chowdhury anticipates higher utilization of blockchain-based digital transformations for humanitarian, philanthropic, and social purposes. Throughout 2021, decentralization has been pivotal to the growth of DAOs, NFTs, metaverse, and the upcoming web 3.0.
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Decentralized autonomous organizations, or DAOs, make full use of the lack of hierarchy by functioning on encoded smart contracts. Notable worldwide instances involving digital token utilization and pool-funding to make social and economic contributions include projects for streaming, freelancing platforms, charity, and many more. A recent DAO project raised over $40 million to acquire a first copy of the US Constitution in auctions, though they were outbid by a private collector.
Chowdhury has a positive outlook on ongoing market trends and the upcoming future. “Blockchain, like any other technological innovation in history, was designed to improve the quality of living. Decentralization and peer-to-peer networking foster a spirit of collaboration and commitment to change things for the better,” he says in reference to the growing adoption of blockchain applications for non-profit purposes.
A global consciousness to make the world a better place is bringing together crypto collectors and enthusiasts. Projects have been launched to make contributions to fund cancer research, save the environment, and help fight poverty. Organizations like UNICEF and the American Red Cross accept donations in crypto assets.
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“The growth in technological progress along with pandemic losses is steering a collective force into working towards the social and economic upliftment of people
Worldwide,” said Chowdhury.
The US-based HashCash Consultants led by Chowdhury has been involved in medicine and space research. Over the years, the company has been an active participant in projects boosting financial inclusion, low-cost remittance, and COVID-19 vaccine distribution, as well as preventing child labor and helping African businesses/ non-profit organizations with blockchain finance channels.
Blockchain innovations like DAOs, metaverse, and NFTs, touted as the upcoming global game-changers are already showing great promise in social, environmental, and financial upliftment. The future can expect more philanthropic endeavors and collaborations through charitable blockchain projects.
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