 The name of today's event is Blockchain Basics for Non-profits Prepared for the Future. We hear these terms every day like blockchain, cryptocurrencies, NFTs, but what do they really mean? And more importantly, how can they open up new opportunities for leaders and nonprofits and those of us working in civil society? In this first, in a series of community events focused on nonprofit leaders, Jason Shim will take you through the fundamentals of blockchain and explain how they can be used by nonprofits. This event is supported by an award from the Filecoin Foundation for the Decentralized Web. My name is Billy Bicket and I will be your host today. Who are we? We are TechSoup, a global network that's bridging technology solutions and services for good. We're a 501c3 nonprofit that started in San Francisco in 1987 and now have offices in London, England and Warsaw, Poland where a capacity building nonprofit with a mission to bring new emerging technologies to the sector in a responsible way so that folks can get the information early and find the support they need to integrate new tools into their mission-driven activities. This learning series is all about creating the conditions for builders of public good technology and what we call civil society integrators. It's about creating a new interface for those builders and those integrators to be together and better understand each other's world and really to harness the new technologies that are emerging early, effectively and responsibly. In terms of our community, we are an inclusive global community that puts community first. We're here to support each other. Our intent and interest is in building stronger nonprofits and a more resilient civil society and we invite your active participation in the chat and after the talk today you'll have a chance to run through questions and answers as well. So with that, let me introduce our guest experts. Today we have Jason Shim, co-author of Bitcoin and the future of fundraising. How can we harness technology to make a difference in the world? That's the question Jason loves to explore with organizations. With experiences spanning the nonprofit and academic sectors both as an employee and a consultant, Jason stays ahead of the technology curve. In 2013 he led pathways to Education Canada to become the first charity to issue tax receipts for Bitcoin donations. He's been at this for a while. It's about a decade in the Bitcoin and blockchain game. He serves as an editor at Ledger, a peer reviewed scholarly journal at the University of Pittsburgh that publishes full-length original research articles on the subjects of cryptocurrency and blockchain technology. We're really grateful to have Jason here. Also we're joined by Ann Connolly, our Web 3 subject matter expert. Ann's been instrumental in helping us put this program together. And Ann will be here to support questions and answers in the chat and also at the end of Jason's talk. So with that, I'm going to stop sharing my screen and pass the mic to Jason to kick us off. Hey, thanks so much, Billy. I'll jump into the presentation. So first, hi. My name is Jason, and I've spent my career in the nonprofit sector. And as Billy mentioned, I'm co-author of the Bitcoin and the Future of fundraising along with Ann Connolly, who's also on this webinar. And over the last, you know, some 10 years, I helped to deploy one of the first implementations that they show in tax receipts for cryptocurrency donations, and since then I've helped many others in setting up their own programs and have had the opportunity like these to share knowledge more widely based on my experience. So in terms of what you can expect for today is that I'm going to be sharing a nonprofit perspective on working in the blockchain and areas as well. All right. So new technology brings new philanthropy. And with each successive wave of technology that comes out, philanthropy finds a way to find a space in it. So first, I'll take the example of the television, monumental communications medium that radically changed many things about the world. And from a philanthropic view, one of the things that intersected with philanthropy were things like telephones. And so you have this communications medium that's reaching out into living rooms around the world. And so the development of the mechanism for people to solicit donations to engage with new audiences emerged in the form of telephones. Similarly, with the internet here, that you can also have a way to connect and communicate with people throughout the world. And what that looked like from a philanthropy lens that was laid on top of it was also donations. So here's the example of the TechSoup donation page. And what that enabled was that it brought about online giving and crowdfunding. And these are two just very short examples, but here's a whole bunch of different examples along the way where the evolution of philanthropy as in relation to technology from moving from writing checks to moving to online credit card donations to using various different communications mediums and technology. And finally, the last example that we have here is blockchain technology. And so that's what we're here to talk about today in terms of understanding how can sell a blockchain also intersect on that front with regards to philanthropy and to nonprofits. So first of all, what are blockchains? Now think about blockchains as a notebook or a ledger. And imagine if everyone had a ledger and everyone on this call had a notebook or ledger and say I gave $100 to Billy. And everyone is simultaneously keeping a record of this. Everyone has a magical ledger that is also updating itself to indicate Jason has given Billy $100. And the thing about this ledger is that everyone has a copy of it. Here it's replicated and it's replicated some more say everyone on this call gets their automatically magically updated ledger that indicates that, yes, Jason gave Billy $100 or Billy made a transaction as well and he decided to give Eli dollars. And this is all recorded on the ledger shortly. And this is all just part of the system itself and the way it's built for the blockchain using things called consensus mechanisms. And with each additional piece of data that is added, it's added to this chain of information or a block. And so if any changes are made or say if I tried to claims, oh, wait a minute, I didn't actually give Billy $100, I'm going to try to change it to 15. The way that the blockchain works is it becomes immediately evident and it's very easy to tell if any changes have been made to it. And so it would stick out like a sore thumb. So the bottom left there is a visual representation of that, of how the blockchain would function in that regard is that it would be very clear or evident that a change had been made to the blockchain. And so one of the benefits about blockchain technology is that once data is entered onto a blockchain is that it is mutable or in other words, it cannot be changed. And so why is this important? So immutability can be important because it ensures data integrity as well as security and transparency. These are all elements that are also quite important to those working in the nonprofits space as well as social society organizations. Now, typically, this is important because entire organizations and structures around verification can exist to address the issue of data integrity, security, and transparency. Acting as intermediaries and all these organizations, they're still very important. However, blockchain represents a mechanism for which some of this can be embedded into the technology or infrastructure itself. And in some cases, potentially automated. So when we think about some potential use cases that blockchain technology may be useful for, some of the things that may become to mind are things like payments, which I'll speak about in more detail in the next section about cryptocurrencies, the example that I gave around recording on a blockchain that I transferred $100 over to DeBilly and multiply that by hundreds, thousands, millions of transactions all recorded onto an immutable blockchain. That can be really helpful for keeping track of transactions. Other use cases that blockchain may apply to are things like supply chain. As goods are moving to a supply chain and you're looking to verify that it is authentic or that you have provenance for where things have come from, where they have gone, that it can be employed to help support supply chain use cases as well. Things like digital identity systems. Many of current models depend on storing digital identity information with central servers in order to verify individuals. However, taking a decentralized kind of blockchain approach may allow the information to be encrypted onto within the blockchain and then folks would authenticate against it and that it would be a way to securely authenticate against a database without necessarily having to store all of it in a centralized environment. Jason, we have a few questions that have come through that I think are relevant to this part. Richard, I've seen your questions and we'll have those come up a little bit later in the presentation, but Tamir is wondering what kind of data can be put in a blockchain, images, video, that kind of thing. Yeah, so generally speaking, technically, you could embed many sorts of data in a blockchain. However, one thing to keep in mind is that within a blockchain is that the economics of it is that you typically have to pay to store the information on there. So it depends on the specific blockchain and it depends on the mechanism that is being used, but yes, there are many different types of files or data that you can store on a blockchain. And for instance, something like Filecoin is actually designed specifically for things like data storage and incentivizing folks to do that accordingly. Yes, all sorts of data can be stored in a blockchain and I'll qualify that by saying that it also depends on the specific blockchain that you are utilizing. Generally speaking, you probably wouldn't want to store a very large file on a payments blockchain because it would be pretty expensive. That you may want to use one that is more particular to data storage or something like that. Great, and then a couple more questions here. How is it access stored? Oh, sorry. How is it access and stored? Are there several blockchain warehouses, flash owners? Yeah, blockchains function in terms of there may be different types of projects for which people are hosting. It works in a decentralized kind of way. So there are various nodes that may be hosting the blockchain itself and that synchronizes among itself. So it really depends on where, who is participating and where it may be hosted. So the question to where it's hosted, it's wherever the nodes may potentially be. So it could be scattered all throughout the world, throughout North America, depending on the type of project that is being undertaken. In terms of where it's stored, the data is stored within the nodes of the blockchain. So when I say nodes, it's referring to someone is hosting a server in a certain space, then that would be one node as part of a wider blockchain. And there are many different blockchains that that exist out there. Great, one more question here we've got. How do I show that I have under the US dollars in a blockchain? Yeah, I'll get to that a little bit later in terms of that example of if you're referring to something like a cryptocurrency or such that you could be using something like a stablecoin to represent US dollars and that it would be recorded on the ledger of that that you would have transferred $100 over to another user and that it's recorded within the data of that particular cryptocurrency or blockchain. And I'll talk more about the relationship between cryptocurrencies and blockchain later in the presentation as well. Great, we have a few more questions, but I think why don't we continue and some of them will be a little more relevant to later parts of the presentation. We'll bring them up then. So the next question is what are cryptocurrencies and how do they work? In terms of the relationship of blockchain to cryptocurrency, blockchain is a technology that enables cryptocurrency. As I explained earlier, the concept of blockchain is a series of ledgers or kind of notebooks that are updating themselves and built in such a way that when changes made to one section or to one element that it reflects across all of them and it's added to the chain of data for transactions. And it's important to understand the history as well to get some context around cryptocurrency and blockchain. And so the best known one here's the logo for Bitcoin. And the origins of Bitcoin were from Bitcoin White Paper, which was published on October 31st, 2008. So yesterday was actually the 15-year anniversary of publication of the Bitcoin White Paper. And so what this did was it outlined how a peer-to-peer electronic cash system would be used and it described in detail how would be employed using it. And it's a fairly readable paper in that it is written in somewhat the academic language, however, it is readable in terms of going through it and if you're interested in the inner kind of workings and mechanics of how Bitcoin works. But fundamentally is that from a digital currency standpoint is that it presented a view for how a digital electronic cash mechanism could work and that it isn't owned by any particular government or corporation. And it could be sent anywhere in the world so long as folks had access to an internet connection. And it could be used to store value and make transactions. And so if you think about using a cryptocurrency on a blockchain and what the alternative could otherwise be is that if you had to send funds all the way across the world to someone else, is that a cryptocurrency like Bitcoin or others could be sent anywhere in the world in a matter of seconds. And when looking at parts of the world that may not necessarily have a robust banking infrastructure, that can become very important. Let's say if there's access to the internet but there is a robust financial system, that these are the kinds of examples for which something like a cryptocurrency may prove to be valuable. And you can think about it in a sense of something like digital gold in that it's the concept of being able to store value digitally was quite a different one after the publication of the Bitcoin white paper. Because up until then, when you think about how do organizations or individuals represent value digitally, it all relies up until that point really on a centralized model that, say, if I wanted to transfer, going back to the example of transferring $100, prior to that, you would be working through an intermediary and saying, I'm transferring you this $100 through this online financial institution or something. And that it would rely on the intermediary to record that and prove it and that any changes could be made to it as well, chances are it probably wouldn't be, but you would still need the intermediary to make that happen. However, cryptocurrency like Bitcoin, what that represented was a way to transfer value without necessarily having a centralized intermediary and that's value of having it decentralized. The other thing that I want to touch upon briefly was Ethereum in terms of understanding the different things like decentralized applications and smart contracts. While Bitcoin was focused primarily on being a store of value, Ethereum came out a few years later and it's allowed for things, it was actually a programmable Bitcoin. So in addition to being a cryptocurrency in itself is that you could actually execute code on the Ethereum network and so what that enabled was you could develop decentralized applications and that they would operate on decentralized network rather than a central server and distributed apps could use blockchain technology to provide transparency, security and immutability of data and they could incorporate smart contracts which would be self executing code that could automate and enforce certain aspects of an application's functionality. One of the nicknames that was given for Ethereum was also a world computer. So that's an example of another kind of cryptocurrency with additional functionality on it as well and when there are other functions that could be attached to Ethereum such as NFTs which are non-fungible tokens which I will speak to later as well. Jason, we got lots of good questions here. One of them is from Gil and I answered it in the Q&A but I think it's important to bring up live and that's the question of if blockchains are so secure how do people manage to steal so much money from them? So generally speaking the cryptocurrency for a lot of blockchains that are developed they have quite robust cryptographic mechanisms and typically when folks hear about tasks of cryptocurrency from exchanges or others is it's usually due to a lapse in other areas of security. One example is say if someone stored their wallet seed so that's the keys to your wallet inside say a password manager and say if the password that was used for that password manager was involved in a credential stuffing attack which someone found at the database of usernames of password and the same password was recycled across multiple places then those kinds of instances may provide an opportunity for a dedicated and motivated attacker to get access to that information and subsequently access to a wallet. The others are the exchange itself may be hacked but in terms of the blockchain itself getting hacked that it's typically not due to those kinds of instances it's usually folks getting access to credentials or administrative accounts or like an unsecured computer itself but if the cryptocurrency is properly stored which I'll speak to in about the cold wallets and such then it is secured that way but when folks do hear about exchange hacks and such it may be due to security lapses on the part of exchange rather than the blockchain itself or things like smart contracts which may have code that may not have accounted for certain use cases that they left it open and someone was able to run malicious code against a smart contract. Yeah, that's great. I always think about it like if a website gets hacked it doesn't mean the internet was hacked and so if an exchange gets hacked it doesn't mean blockchain was hacked it just means one service that was connected to the blockchain got hacked. So yeah, let's keep going. Got a few more questions but I'll bring them up as we go along. Yeah, so in terms of practical use cases for cryptocurrency some of the immediate ones that come to mind is that the remittance market is huge over $50 billion industry and the growing the be able to send stores of value across countries across oceans and I know and when in the past you have shared examples when working in developing countries that if there isn't robust banking infrastructure that folks may have to carry back packs a lot of cash to make payments and that is a scenario that for some who are working in that specific kind of scenario in the nonprofit sector is that's a reality where if you can't just send an e-transfer of payments you may have to carry a lot of physical cash and but if there's internet access something like cryptocurrency or blockchain technology can help alleviate that helping to bank the unbanked so having access to financial systems and as well. And finally as I shared earlier having something like a world computer or computing platform which enables program suite running cost to me in the back end this is very emergent still like we're still in the early stages of folks deploying things like decentralize the applications and further growing and really it's also what folks can think of in terms of what use cases may fit their particular organizations or instances and also to some examples of how folks have connected interesting things over to the Ethereum blockchain in particular but can readily apply to others as well. I can talk a little bit about buying and selling cryptocurrency so sometimes a question emerges something how do you buy and sell cryptocurrency? The short answer is that at the present time for most organizations individuals the shortest path is going to be buying to an exchange it's much more robust than you know where it has been in the past you would sign up for an exchange do the authentications and then send them money and then you're good to go. I will share that the evolution of it is that in some early days some of you may have heard the story before where someone paid 10,000 bitcoins for two Papa John's pizzas and they're of course in an issue you can do the barter kind of mechanism but we're not we're well past that at this point there are also stories of folks trading them for rolled up all craft items or things like that. While you theoretically can do that there's much more robust system and network of exchanges that's emerged with also additional government regulation that has emerged as well over recent years that also govern how these exchanges function in accordance with existing financial services and the broader banking sector as well. So the short answer is well straightforward way for most individuals in organizations to sign up and from there giving everyone a heads up that when you do many governments also have ML or KYC requirements which is anti-money laundering or know your customer regulations you will likely be asked to provide a form of ID as well as filling out some forms if you're applying as an individual as well as additional proof with regards to verifying things like address and identity that you may need to send a picture of an ID card or something like that. For organizations it will depend on the exchange but it is not uncommon to have to submit things like articles of incorporation to prove that you are a legitimate entity and as well as information about your executive leadership and or your board information about them as well as signatures and sign-offs. So this is part of the mechanisms that many of these exchanges that have connections to existing financial systems will require in order for you to sign up for an account. Okay, so there's the question that is asking is there a website available with a list of all vetted exchanges? Actually available with a list of all vetted exchanges. It depends on where you are tuning in from. I know that's depending on where you are check with something like your local securities commission that they could prevent some exchanges may need to register with the local securities commissions in order to have a license to exchange or trade cryptocurrency. So if you're looking for a vetted exchange insofar as they are working with the appropriate new government authorities it's that would be the place to check out of checking with the securities commission around who has a license been granted to for exchanging or buying or selling cryptocurrency in that regard. So moving on to storing cryptocurrencies. So there are various ways to store cryptocurrency depending on your personal comfort level interest. You can leap your cryptocurrency directly on an exchange however the risk is that if anything happens to that exchange you may be at risk of seeing your cryptocurrency. However it's known as a custodial wallet that there is a freeze that's sometimes used there in the cryptocurrency enthusiasts not your keys not your coins in that it'll depend to the degree that you trust the exchange that holds your cryptocurrency. I'll go through the other mechanisms of storing as well beyond crypto exchanges. There's various types of wallets. So the little illustration of the local of the Fox there is a MetaMask which is one type of wallet. It's a software type of wallet that you could add it as a browser extension and it's what's known as a hot wallet and hot wallets are ones that are connected to the internet and they may sit on a computer or a piece of software and it's useful if you are on a website and you're looking to store or exchange cryptocurrency or interact the decentralized app. However, if you're looking to store longer term it's generally advised to use something like a cold wallet. And so what a cold wallet is it's actually a physical device that sits separate from your computer that you would plug in to authenticate transactions or to store over longer term. And so what's illustrated here in the middle is a ledger wallet as well as a tracer which are a couple of examples of cold wallets physical devices that folks can use for extra security when storing cryptocurrency. It's worth noting as well that when a wallet is created a series of 24 words can also will be issued and that series of 24 words would allow you to recreate your wallet should anything happen. And that also needs to be stored very securely as well organizations. If you were to store directly on your computer again, generally not advised to do that that cause it does pose a risk that if anyone were to get access to it 24 words and they would have access to your crypto wallet. And finally sending cryptocurrency how do you send cryptocurrency? Each wallet has a corresponding wallet address. So this is the wallet address for the ledger journal. And so it's as simple as pulling up a phone or copying and pasting your wallet address and then you would send the cryptocurrency to that address and then it would be reflected on the blockchain after it has been received and confirmed. I see there's a question when and on from John nonprofit receives a donation of cryptocurrency is necessary to have a wallet address of their best practice in this area. It really depends for when receiving a donation of cryptocurrency if you're working with an exchange or a service like the giving block they will issue an address that generally it'll be like a one time use address that will be specifically used to receive it and then organizations like the giving block or others would take care of it and notify you and issue the receipt and let you know. However, it is possible for nonprofits to also receive crypto directly in their own private wallet. However, it's what's helpful to keep in mind is that does present additional overhead for an overhead in the sense of time and complexity for our organization. It is possible for nonprofit to receive directly in their own private wallet. However, you also have to make sure that the wallet is properly secured, so that you have internal procedures in place for who accesses the wallet and how it will be transferred to an exchange. If you're looking to liquidate afterwards as well. So in terms of setting the stage, it's worth keeping in mind some of the why may organizations want to consider adopting a cryptocurrency program. So one thing to keep in mind is this was all way back from 2013 is that around this time and others that Canadian Mint was looking to test its own digital money project. And since then there have been additional explorations by various governments around things like central bank digital currency. So the digital currency is something that organizations or governments are actively exploring as well. The other is that this was in 2014 that donations started coming in for various causes. This one made headlines at the time where in the sense that it's making website and getting $30,000 worth of dogecoin for the Sochi Olympics. And you had people that were starting to search charities using the search terms charities accept Bitcoin or charities accept cryptocurrency. And I know this because I reached out to a donor in who had made an early donation and asked them directly, hey, so why didn't you give to our particular organization? And the response was you were the only organization that I could find that accepted Bitcoin. And so I gave it to you. And the landscape is very different now. There's many more charities that accept cryptocurrency. However, the one set that's due to it. And there was an earlier study that I was connected to a few years ago that indicated that something like 4% of charities accepted Bitcoin. And I believe that number is higher now, but there was also a stat recently that among the Forbes top 100 charities that it's closer to, I think something like nearly 50% of those organizations are now in position to accept the currency. So trend-wise, organizations have increased their capabilities to accept cryptocurrency alongside other ways of receiving donations to the organizations, such as stock donations, et cetera, like a currency as part of the mix as well. And so it's worth noting that in December, 2017, that $55 million was offered to charities via the Pineapple Fund. And so this was an anonymous donor and to this day, it's not known who this individual was. And that 60 organizations were selected to be recipients of varying amounts. And these donations ranged anywhere from a few hundred thousand dollars to millions of dollars. And many of the organizations had to quickly scramble to quickly figure out how to accept cryptocurrency, though it was also an opportunity to engage volunteers and mobilize for making this happen. But what this enabled was someone who had accumulated a significant amount of well through cryptocurrency was able to donate it quite quickly to various charities. And thank you, Susan, for sharing in the chat. That's it. You can find charities who accept crypto donations through every.org as well. Another example is Mary Mirkel. So this is a really interesting example for coming in-house in Toronto, which is a Canada's largest agency serving youth who are homeless, trafficked, or at risk. And a group of Ethereum developers had gotten together to create an in-person fundraiser and raised over 134 a E. And I think at the time, it was about just 70 or $80,000. And I think in present day, yeah, you see that. Eventually it went up to a higher to about 150,000. But the interesting implementation was that they actually created a Christmas tree with lights that was connected to the Ethereum network and it would actually activate the lights based on donations that were being made in real time. So it was a really interesting intersection of something like a blockchain technology and cryptocurrency also connected to real-world connectivity in that regard. So the additional benefits that came out of that for those who were able to get on these the cryptocurrency implementation were marketing and PR through our media, being able to position the organization as being quite innovative, invitations to inform future developments around some of the projects, additional donations, collaborations, and quite frankly, future-proofing of the organization. Going through the motions of trying to figure out how you would accept cryptocurrency and also work with a blockchain help provide the opportunity for an organization and its staff to learn about the technology as well as figure out the internal systems that would be needed in order to deal with it. And in terms of shell use cases, so I mentioned earlier things like rewritances working to bank those who are unbanked. Other use cases and implementations are also things like education incentives. Smileycoin is an interesting project based out of the University of Iceland and what goes most in education incentives for students to answer questions. The Trude Web system is an open education system and that's when students would be going through questions or being quizzed or being in kind of a drill environment is that they would receive Smileycoins or going through the drilling kind of process and answer a question and then get a Smileycoin and then the incentives of the Smileycoin could be redeemed for vouchers for discounts on copies or things like that and one interesting part that the Smileycoin project had was that they also provided an opportunity to actually donate the value of the Smileycoin to cojects. So this is an opportunity for students to not only earn Smileycoins through taking parts and incentivize kind of education elements relating to their coursework, but also getting engaged in broader philanthropy through the opportunity to donate their Smileycoin to causes, smart contract trusts. So this is a really interesting one that came out of Charity Water in that one of the things around some folks who may be engaged in cryptocurrency is holding or holding cryptocurrency and not selling it. And so that's like a joke among some in the community. And I think Charity Water recognized this and said, hey, we're gonna have a smart contract that if folks deposit in here, is that we confirm that we will not sell it until at least 2025 so that they can accumulate value to support water projects for clean water. And at present time, the value of it is about 3.5 million US dollars and this amount will continue to be held until 2025 before the first opportunity for liquidation there. The other is around NFTs. So NFTs can take various forms, various blockchains. And here's an example of Matthew of the Calgary Flames. He had issued an NFT and was able to raise $20,000 for which went to the St. Louis Children's Hospital and the Alberta's Children's Hospital Foundation as well. So this was an auctioned NFT. And what an NFT is, it's a tokenized representation. I typically have a piece of artwork, although it could be any sort of data, could be a video or such. And so this piece of art, a digital sports memorabilia was released as part of a fundraising initiative. And another was Immortal Poppy, which was created by the World Canadian Legion. And what this was that it was actually digital poppies for Remembrance Day in Canada, which is November 11th. And they were sold for 0.1111 Ethereum at approximately a value of about $500 Canadian for each Poppy. And what I spoke about earlier in terms of embedding additional kind of programming into blockchains is that subsequently, if the NFTs are sold in the future, is that what's embedded within that contract is that a 10% royalty from every resale will go back to support the World Canadian Legion as well. And this fundraiser engage a wider cryptocurrency audience and generated over $40,000 in sales and resale royalty. The other thing to putting on folks radar is a PoApps. So PoApps could be interesting for stewardship opportunities for organizations is in that what a PoApp is, it's a proof of attendance protocol. And say if you met someone at a conference or if you attended an event that you could be issued a PoApp which you would store in your wallet. And what makes this interesting is that you now have a representation of that as saying, hey, I spoke to this person or I attended this event, is that something like PoApp could be a really interesting use case or stewardship opportunities for being able to verify prior donors or event attendees instantly and providing opportunities that are specific to folks who may hold that particular token that is connected to your organization. Similar to that is that things like carbon credits. Discarbon is something that is connected to PoApp as well in that it can actually provide you an estimate of carbon emissions due to plane travel and you can buy on-chain carbon credits and then retire them on the polygon network and offset the estimated emissions. And folks can be issued a PoApp as well related to this. And in terms of emerging use cases of blockchain and within the decentralized web is that currently in the real fiscal world, there are things like insurance contracts, rainfall insurance where if under a certain amount of rain falls in a certain area and if you have an insurance contract with an organization around that, you would settle that in terms of indicating, okay, there wasn't enough rain and so we have this contract. And so some of those things couldn't potentially be handled on a blockchain itself where using things called oracles which are mechanisms to confer data and you can attach smart contracts. An example of that is that the associated press actually had oracles developed where they would actually issue on the Ethereum network that to confer the outcome of during American elections and when the results were coming in for various states and such that the information we posted to the Ethereum network and then from there, folks would actually actually configure smart contracts to trigger certain things to happen depending on what the data was indicating. And things like this, when you think about what may be possible if you could make that programmatic and actually integrate that into broader applications could be really interesting. And finally, things like tax receipts. Currently a lot of organizations when they do issue a receipt for a donation that they're issuing it from their own internal systems and such and you may have to pull it out at some point to say if you're filing your taxes then you may need to prove it is that a use case for a blockchain certainly could be around the tax receipts that may be something on the horizon potentially for exploration. Jason, while we're on the tax receipts and we only have a couple of minutes left so we'll have to keep answers quick at this point. Where would you suggest finding accounting services that can manage cryptocurrency donations and what are the tax implications? Yeah, so that may be a question that maybe I can go into further detail during the Q and A next week but the short answer is it's really reaching out to terms currently and asking them if they have expertise in that particular area. The other is if you search some of the existing software that is out there for around managing taxes that some of them do have listings of corresponding accountants as well that may be able to assist as well. So in terms of setting up your program the making sure you secure buy-in from your organization, getting executive support, getting all these folks around the table with the finance, fundraising so that you can get integration with existing systems or seeding, legal and marketing and make sure that's covered. And when thinking about securing organizational support making sure you hone in on some of the key drivers that typically motivate folks to get involved in these types of projects so things like revenue, new donors, innovation, etc. And when thinking about your organization where does your organization typically follow with regards to adoption of technology? If you tend to be early adopters then you may be very well positioned for undertaking a program. If you're a little further along the adoption side for innovations then that's worth keeping in mind as you're assessing, promoting it within your organization. In terms of questions that people have there will be another session next week for office hours for Q&A so I hope to see some of you there as well. I'll show you that there have been a fair number of questions in there. In terms of accepting cryptocurrency this was mentioned earlier for a couple of options. You can accept the other party which is going to be the vast majority of organizations in terms of keeping it simple or you can accept directly and sell which involves setting up something a little bit more involved where having your own private wallet and then having internal mechanisms for transferring it over to an exchange selling it manually and then reconciling all of that. Generally speaking, accepting the other party is probably the most effective and efficient for the vast majority of organizations. It's worth also keeping in mind your existing gift acceptance policy and examining that to make sure that it does fit within your existing gift acceptance policy or if you need to make any changes in that regard. And in terms of making it easy for donors to find your organization having making sure you're putting on your website having a page so it can be search engine optimized education and marketing, promoting it and also crypto media. So one thing to keep in mind is if they Google view and we're looking to donate crypto to your organization but they'd be able to find you because you don't get donations you can accept. So in terms of crypto media is that here are some examples of crypto media that you're looking to stay on top of developments in the crypto space. Here's a few resources for those who may be interested in reading more. And in terms of anticipating the future the questions that I like to pose to myself when thinking about the future and I encourage you to think about this is are things gonna get faster or slower for the internet? Are they gonna get harder or easier? Generally, I think they should get easier while people get more mobile, less mobile probably leaning towards mobile, progressive devices. Do people want more or less convenience? Probably more. And so when we think about the question will we see more or less decentralized web? Is that from a trend line perspective? Is that well likely see more? There's developments going on the background you're all here or chatting about it. And so part of that is for everyone who's here today it's anticipating the future is also necessitates creating the future. And for many of you that are here today to learn a bit more and to also if you do proceed with programs within your organizations you'll be helping and creating that decentralized future as well. So at this point I will stop here for questions and I'll stop sharing. So please feel free to keep in touch and I'll take a look at some of the remaining questions in the Q&A now as well. Sure, so we only have a couple of minutes left so I do want to get to Richard's questions he had a few of them but one of the things he mentioned was asking about are crypto investors more likely to support bigger causes and do you think there's a lag in the thinking from UK compared to West Coast US? I think that it's not particularly necessary to crypto users but I think donors will support the causes that they feel closest to so that I think the bigger question there is around things like storage around how are you engaging with donors? What's your strategy for researching potential prospects and for engaging and getting them interested in donating to organizations? I think the question around donors mean towards bigger organizations. I don't think that's necessarily always the case but sometimes as it goes if someone is searching for organizations to donate to and that's the first thing that pops up and that's how they engage with the organization that may very well be the situation there. It'll depend on existing donor outreach efforts. Great I think that's all the time we have our questions for today so I'll throw it back to Billy but if you have more questions that we didn't get to yours definitely join us next week on Tuesday for Open Q&A with Jason. Billy go for it. Thanks Anne and thank you so much Jason for that. I'm having a little mouse problem it just doesn't want to click sorry. For those of you who got something out of today's session please send your reactions and love bombs to Jason. Jason thank you so much for dropping your wisdom and experience on us so helpful and insightful and clear. We're excited about you joining us again next week. Next Tuesday we'll be hosting you again at the same time same channel I dropped a link to that office hours in our chat. Thank you Anne for facilitating Q&A. Next week Tuesday November 7th Jason will join us again to go deeper with your questions. Please bring your questions take notes over the next week and Jason will be happy to dive in deeply with you. For those of you who had a great experience please share your feedback on our post-event survey which will drop in your inbox with our slides and recordings from this session and we'll see you next Tuesday. Thank you everybody thank you again Jason. Have a great week. Thanks everyone.