The problem of children living in unhealthy or dangerous situations is almost as old as humanity, and many organizations have stepped up to help. One such organization is Upbring, based in Austin, Texas. This nonprofit is tapping innovative ways to help kids in need, and the novel technologies of cryptocurrencies and blockchain tech are offering exciting opportunities for this organization.
Serving at least 11,000 kids throughout Texas, Upbring is focused on providing foster care, resettlement and education for the children it helps. The organization has 75 locations spread throughout Texa, and carries out its mission through those locations. The company’s work is geared toward breaking the tragic cycle of child abuse, and the nonprofit wants to innovate new ways through which to execute that mission. To this end, Upbring has created an innovation lab through which new ways can be developed to tackle the problem of child abuse.
Michael Loo, Upbring CEO and president, said that the nonprofit isn’t interested in doing what it does in the same old way. He added that the company is keen to come up with innovative ways to measure the impact of what it does, add value to its services and be better at raising the funds needed to run its programs. The innovation lab manned by five people will help in bringing new approaches to Upbring, he added.
One area of concern that the team at the innovation lab are considering is how blockchain technology can be harnessed to expedite the processes of identifying the kids who are most in need. In this way, Upbring would be able to move quickly and avail the needed help. The company intends to make use of millions of data points to predict more accurately where a child could be in danger and then act quickly.
Like all nonprofits, a significant portion of the company’s operations are funded by donations. Upbring runs a $100 million budget, and close to 20% of that money is secured via private fundraising. This is where the innovation lab comes in. The team launched a crypto program accepting donations in cryptocurrencies. Additionally, it has also established a crypto endowment fund, and the nonprofit is already pulling a fraction of the earnings from the endowment fund to finance organizational projects.
Loo is happy with the innovations that have been implemented so far. While aware that there will be ups and downs with these initiatives, he is hopeful that good will come from Upbring’s efforts to be forward thinking. It is this kind of confidence in the utility of blockchain technologies that is going to boost the prospects of industry actors such as Coinbase Global Inc. (NASDAQ: COIN) as the deepen their reach in the market.
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