Utilizing advanced technology enables us to enhance our ability to offer assistance to others.
Worldwide Philanthropy: Navigating Trust and Transformation
In the current global landscape, philanthropy – the act of donating time, money, or resources to promote welfare – is undergoing a transformative phase, despite economic uncertainties and geopolitical tensions. This evolution is a subject of ongoing discussion, particularly the question of whether the increase in philanthropists is due to a surge of altruistic benefactors or speculators attempting to financially manipulate the system.
Rhodri Davies, head of policy at the UK-based Charities Aid Foundation, sheds light on this debate. According to Davies, a negative perception of philanthropists is prevalent, but it does not accurately reflect the reality of modern philanthropy. Davies explains, "Philanthropy is going through a phase where there is a lack of trust."
A contributing factor to this narrative is the influence of populist sentiments shaping perceptions, often portraying philanthropists as exploiters colluding with the so-called "deep state." As a result, philanthropy finds itself in the crosshairs, just as governments and the elite have.
Take, for instance, the case of billionaire Michael Dell, who, in response to potential taxation of $10 million+ year earners, publicly admitted he would rather manage his funds than leave that responsibility to the government. Cases like these, as Davies points out, feed into the notion of "bad" philanthropy, often characterizing philanthropists as individuals aiming to take on the role of the state.
Historically, philanthropy and government have worked hand-in-hand in the UK and the West. Davies expands on this, highlighting that the balance of power can vary greatly between countries and cultures. Despite the current polarization in public discourse, Davies warns that philanthropy is not a solution for structural problems on its own but can act as a catalyst for innovative social change, distinct from the state.
To navigate the crisis arising from the erosion of trust between philanthropists and beneficiaries, Davies suggests embracing technology. New developments in data science, artificial intelligence, virtual reality, and blockchain could bring about more rational decisions and enhanced transparency in the philanthropic process.
Davies refers to blockchain as a "ledger for transactions" that, when implemented widely, could provide an open, verifiable, and transparent platform for donations, addressing concerns about fraud and corruption. However, Davies cautions that absolute transparency may not be beneficial in certain contexts, such as in countries where discussing specific topics or supporting certain causes (like LGBT rights) could be dangerous.
As the world grapples with the challenges and complexities of modern philanthropy, it is essential to maintain objectivity, recognize the potential benefits of innovative technological solutions, and strive for transparency in philanthropic practices.
- In the quest for restoring trust in modern philanthropy, Rhodri Davies proposes adopting technical advancements such as artificial intelligence, data-and-cloud-computing, and blockchain to bring about more rational decisions and improve transparency.
- To combat fraud and corruption within philanthropic practices, Davies emphasizes the potential of technology, particularly blockchain, which functions as a "ledger for transactions," offering an open, verifiable, and transparent platform for donations, thus addressing concerns about deceit and corruption.
