Global Markets
The Transformation of the Philanthropic Sector
Last updated
The Transformation of the Philanthropic Sector
Last updated
The global blockchain technology market is experiencing rapid expansion. Valued at approximately USD 17.46 billion in 2023, the market is projected to grow significantly, reaching an estimated USD 1,431.54 billion by 2030. This represents a compound annual growth rate (CAGR) of 87.7%.
Blockchain technology is increasingly being adopted within the philanthropy sector. Organizations are leveraging decentralized ledger technology (DLT), artificial intelligence (AI), and blockchain to enhance transparency, efficiency, and accountability in charitable efforts. The integration of blockchain with supply chains is also transforming charitable management by improving resource visibility and traceability.
Factors Driving Growth:
Transparency and Accountability: Growing demand for transparency in philanthropy is driving the exploration of blockchain solutions.
Cryptocurrencies and Digital Assets: The popularity of digital currencies like Solana, Bitcoin, and Ethereum showcases blockchain’s potential, with organizations investigating innovative ways to manage digital assets.
Cross-Border Transactions: Blockchain enables faster, cost-effective, and transparent cross-border transactions, crucial for global philanthropic efforts.
Government Support: Regulatory policies worldwide are supporting blockchain adoption, attracting investments, and fostering innovation in philanthropy.