The American Reporter
Tuesday, January 31, 2023
  • World
  • National
  • Science
  • Business
  • Health
  • Education
  • Lifestyle
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
  • World
  • National
  • Science
  • Business
  • Health
  • Education
  • Lifestyle
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
The American Reporter
No Result
View All Result
Home Business

A Distributed and Crowdsourcing-based Philanthropic Framework for Alleviating Drawbacks of Traditional Charities

mm by Richard Brown
January 22, 2023
in Business
A Distributed and Crowdsourcing-based Philanthropic Framework for Alleviating Drawbacks of Traditional Charities
375
VIEWS
Share on FacebookShare on Twitter

Philanthropy and charitable work usually involve non-profit organizations working as charities that help the underprivileged and needy by offering financial assistance. Charities receive money from sponsors and donors and distribute the collected funds or essential items bought from the funds to the people in need. Traditional charities usually function on a donor-charity-recipient model where charity managers or representatives manage funds according to their expertise and experience. However, the existing charity model involves several drawbacks and limitations due to limited transparency and lack of donors’ direct involvement. Contemporary philanthropic and charitable models comprising innovative approaches like crowdsourcing and distributed networks are essential for alleviating the limitations and drawbacks of traditional charities.

Traditional charities involve several drawbacks and issues that necessitate using innovative and contemporary philanthropic approaches. A lack of donors and disruptions caused by the absence or discontinuation of donations from particular sources are among the primary issues of conventional charities. Traditional charities typically rely on the generosity of limited donors and their funds for achieving philanthropic objectives. However, the charities face financial challenges and even shut down when the limited benefactors decide to stop their donations. Traditional charities also face fund management challenges because managers utilize the funds inefficiently or on the wrong resources that do not accomplish objectives effectively. The limited transparency in traditional charities is also a significant problem causing cost overruns for essential items acquired for recipients or lack of adequate information about the beneficiaries. 

Many charities offer funds and essential goods like food or medicines to random people rather than searching for the proper recipients based on needs. Fund mismanagement is common in many conventional charities because charity managers or representatives misuse the funds for personal objectives. Offering money rather than essential goods to beneficiaries is also a significant problem because the recipients may use the money on unnecessary or unessential items rather than on food, housing, medicines, and other essential needs. However, contemporary philanthropic models like the crowdsourcing-based distributed charitable network focusing on receiving and donating products rather than money can alleviate the drawbacks of conventional charities. Từ Thiện 4.0 (TT4) introduced a new and unique charity framework for addressing and eliminating the issues of traditional charities.

Từ Thiện 4.0 (TT4) or English Charity 4.0 (C4) is an innovative crowdsourcing-based distributed charitable network focusing on products rather than money to improve transparency, maximize funding resources, and enhance fund efficiency. Quoc Duy Vo founded the charity in March 2022 to eliminate the inefficiencies and discrepancies of the traditional charity framework. C4 is a Vietnamese non-profit organization in the Long An province of the country that utilizes a distributed crowdsourcing-based model for helping people in need. The organization’s framework motivates people to contribute to charity regardless of their financial or social background by eliminating the requirement of large donations.

C4 or TT4 utilizes crowdsourcing to maximize the number of donors and eliminate the reliance on a few large donors. The distributed network prevents service or operational disruptions caused by limited financial resources by motivating many people to contribute even the smallest amount as an alternative to requesting a few people for large sums of money. The innovative model also enhances transparency and fund management by relying on essential goods like medicines and other products rather than cash donations. The system works like a buy-one-get-one-free model utilized in retail companies to motivate donors to buy and donate more products. Donors purchase products and give them to TT4, which offers one of the items to the needy while selling the other for more proceeds and donors.

English Charity or Từ Thiện 4.0 comprises two primary components: the Product Sharing System (PSS) and the Full Sharing Charity (FSC). The charity’s FSC model involves donating products or goods directly to the needy or giving the products to the charity for resale purposes. C4 sells the donated products and uses the proceeds to purchase other essential items like medicines or healthcare supplies. TT4 uses the donated products under the product giving system (PGS) and the product sharing system (PSS). The PGS involves giving free products to the underprivileged, while the PSS sells products to donors and uses the proceeds to help the needy. The distributed network and crowdsourcing mechanism eliminate fund mismanagement, resource inefficiencies, and other drawbacks of traditional charities by replacing cash with essential goods.

Previous Post

Douglas Noll – The voyage of a lawyer turned peacemaker and mediator

Next Post

JOHN SHEN - The Famous Entrepreneur and His Efforts for the Business World

Next Post
JOHN SHEN – The Famous Entrepreneur and His Efforts for the Business World

JOHN SHEN - The Famous Entrepreneur and His Efforts for the Business World

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

Empowering Your Team: How Davina Ware Can Help Your Corporation Be Successful Through Employee Development

Empowering Your Team: How Davina Ware Can Help Your Corporation Be Successful Through Employee Development

January 31, 2023

Dame Munni Irone – Her mission to bring a global positive change

January 31, 2023

How many immigrants “American dream” has turned into a “border nightmare”?

January 31, 2023

Beautiful, Sustainable Design: A Touch of Magic with Interior Designer Aly Hammoud

January 31, 2023

Meliá Hotels International will hold a Global Strategy Conference

January 29, 2023

HealthKeeperz on the Looming Elder Care Crisis in America and What We Can Do About It

January 28, 2023

How Catherine Gibson Teaches Children to Embrace Their Uniqueness

January 28, 2023

Yomigt, the Leader of Global Industrial Layout

January 27, 2023

2023 Trends in Blue Collar Staffing

January 27, 2023

Setting the Standard for Men’s Health

January 26, 2023

Dion Health Sets the Pace for a Holistic Approach to Healthcare

January 26, 2023

How to Handle Renovations on a Rental Property

January 25, 2023
  • Home
  • About Us
  • Our Staff
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Use of Cookies

© 2019 - The American Reporter

No Result
View All Result
  • Home
  • About Us
  • Our Staff
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Use of Cookies

© 2019 - The American Reporter

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.