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New ways of making money have often generated new approaches to giving it away. What impact will crypto have?

New ways of making money have often generated new approaches to giving it away. With cryptocurrencies now worth more than all the U.S. dollars in circulation, holders face a crucial question: what kind of donors do they want to be?

The rise of cryptocurrencies has forced the finance industry and the world at large to re-examine assumptions on transparency, efficiency and power distribution. And so, crypto donors have an exciting opportunity to not only grapple with the decision of “how much” but also “how.” How, in other words, can they add both to the pool of available resources and ensure it’s better spent?

Joe Huston is Managing Director at GiveDirectly, an organization devoted to delivering unconditional digital funds to the poorest people in the world.

For better or worse, new sources of wealth often change how philanthropy works. John D. Rockefeller, America’s first billionaire, built its first modern foundation. Rockefeller had more money than he could give away himself and set up an entity to give according to a broad mandate long after his death. His peers – Carnegie, Mellon, Ford – soon followed and a new philanthropic tool was born.
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