Bridget Doran is at the forefront of revolutionizing charitable giving. With a background deeply embedded in both the charity sector and technology, she is on a mission to instill confidence in donors, ensuring that their contributions are not only well-intentioned but also effectively utilized. “Donors are not always certain that their money reached their intended recipient,” Doran remarks, highlighting a common concern among givers.
Doran describes herself as a systems consultant, equipped with the knowledge and skills to delve into the intricacies of technology and data. This unique blend of expertise has led her to explore innovative solutions, particularly the potential of blockchain. Her startup, Traceport, is a manifestation of that exploration, aiming to bridge the gap between charitable organizations and technological efficiency.
What sets Traceport apart? Doran is utilizing the BSV blockchain, which she passionately endorses, to create an innovative platform that enhances accountability among non-profits. “Blockchain creates an immutable, traceable record,” she explains, emphasizing how this transparency can reassure donors about their contributions. Traceport is designed as a subscription service for charities. Importantly, while it facilitates data management, it does not act as a custodian—data resides on the blockchain itself, ensuring longevity and safety regardless of Traceport’s future.
Statistics underscore the need for Traceport’s services. Doran cites a survey revealing that transparent charities enjoy 53% more donations compared to those lacking accountability. This data provides a compelling argument for charities to adopt innovative solutions like Traceport, even though the service entails a commercial fee.
Despite being a revenue-generating venture, Doran firmly believes that the accountability showcased through Traceport will lead to increased donations for the charities utilizing her platform. Furthermore, once established, Traceport plans to offer in-depth monitoring of charities’ operations, assisting in fulfilling audit requirements and ensuring effective allocation of funds across various programs. This initiative is well-timed, given the fragmented and siloed nature of data within many non-profits.
“The systems within charities are many and fragmented,” Doran notes, addressing the hurdles charities face during audits. With Traceport, the tedious process of demonstrating the utilization of incoming funds can become streamlined, thus preemptively addressing potential audit questions.
Doran’s insights reveal significant implications for the sector. Currently, charities globally expend approximately $75 billion on software and compliance. There exists vast potential for optimization, enabling organizations to allocate a greater share of their donations towards actual causes rather than administrative overheads.
Looking forward, Doran envisions a model where donors themselves might support the cost of Traceport’s services, relieving charities of financial burdens. “Perhaps the funders would actually fund the use of Traceport because the charities often operate with very low budgets,” she expresses as a hopeful prospect.
As of now, Traceport is onboarding its first pilot charity in the United States, with negotiations progressing with a second organization. If early adopters experience the accountability and efficiency Doran is confident in providing, it could signal a transformative shift in the charity landscape, ultimately leading to enhanced outcomes for the causes they champion.
To delve deeper into the world of blockchain and startups making waves, viewers can check out additional insights in the linked video below:
